The IMF Board approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 2.286 billion (about US$3 billion) to support Sri Lanka’s economic policies and reforms. The objectives of the EFF-supported program are to restore macroeconomic stability and debt sustainability, safeguarding financial stability, and stepping up structural reforms to unlock Sri Lanka’s…
The Central Bank of Sri Lanka (CBSL) has requested the Attorney General to consider instituting criminal proceedings against three pyramid-type prohibited schemes operating in the country. Accordingly, the CBSL has carried out investigations to ascertain whether the entities Fast 3Cycle International (Pvt) Ltd (F3C), Sport Chain App, Sports Chain ZS Society Sri Lanka and the…
Pays Rs 19 billion in net claims and benefits to policyholders Premium income improves by 14% to Rs 29.16 billion Total Revenue up 21% to Rs 49.2 billion Life Fund grows by 12.8% to Rs 134.9 billion Ceylinco Life policyholders received a mammoth Rs 18.9 billion in net claims and benefits in 2022, as the…
On Sri Lanka’s reform-regress-run to the IMF crisis cycle By Daniel Alphonsus Countries never learn from others’ mistakes, they only learn from their own. Sri Lanka is an exception: we don’t even learn from our folly. Apparently neither does the IMF. Sri Lanka’s 17th IMF programme is set to be approved on March 20th. Is…
The participants of the adventure trail ‘Raid Amazones 2023’ arrived at Bandaranaike International Airport this morning (20 March) on SriLankan Airlines’ flight UL 564 from Paris. SriLankan Airlines is the Presenting Partner of Raid Amazones and extended a warm welcome with a traditional flare to the arriving group. The group boarded the Udarata Menike train…
Authorities had been scrambling to rescue Credit Suisse before financial markets reopened on Monday. ALJAZEERA – Switzerland’s largest bank, UBS, has agreed to buy Credit Suisse for 3 billion Swiss francs ($3.24bn), officials from the banks have said, in a deal designed to contain a widening crisis of confidence in global finance. The agreement, announced late…
Great importance was given to the African continent in the Presidential announcement on the 75th anniversary of independence where President Ranil Wickremesinghe met with the envoys from the African region. The meeting was organised by the Ministry of Foreign Affairs on 3rd February 2023 at the Presidential Secretariat. To coincide with the momentous occasion Mr….
nvestors are betting that Sri Lanka will win final approval for about $2.9 billion bailout from the International Monetary Fund on Monday, a key step for the bankrupt nation to revive its economy from the worst crisis in decades. The South Asian nation’s dollar bonds have returned 20% this year, the top performers in the…
Reuters – International Monetary Fund Managing Director Kristalina Georgieva will travel to China from March 24 to March 30, IMF sources told Reuters on Friday. Georgieva will deliver a keynote speech at the China Development Forum (CDF) in Beijing on March 26, and speak at the Boao Forum for Asia Annual Conference on March 30…
With regard to the captioned matter, we would like to clarify that we have not received any direct or indirect requests or instructions from any state institution to close their accounts with us. We wish to strongly emphasize that People’s Bank has always been a trusted partner for state organizations in providing reliable banking services,…
Video Story
