Sri Lanka’s official reserve assets at the end of February 2023 stood at USD 2,217 million, according to the Central Bank of Sri Lanka (CBSL). This indicates an increase of 4.5% from the official reserve asset figure of USD 2,121 million in January 2023. However, the current official reserve assets include the swap facility from…
The Managing Director of the International Monetary Fund (IMF) has welcomed the progress made by the Sri Lankan authorities in taking decisive policy actions and obtaining financial assurances from all major creditors including China, India and the Paris Club. In a statement, Kristalina Georgieva said she looks forward to presenting the IMG-supported program to the…
SL boast of 2500 years of civilized administration but it’s clear that there was chaos & conflict most of the time. Despite Buddha’s private visits, emperor Ashoka’s strategic intervention making Buddhist monks playing influential roles as advisors, our penal code largely depended on the 32 methods of controlling human behavior (Dethis Wadhaya) till 1948. That…
The Central Bank of Sri Lanka (CBSL) has implemented several schemes of debt moratoria and concessions to assist the borrowers affected by the COVID-19 outbreak and subsequent macroeconomic developments, through Financial Institutions (FIs) supervised by CBSL. These schemes included extended repayment periods, concessionary rates of interest, working capital loans, debt moratoria and restructuring/rescheduling of credit…
Capital Metals plc, a UK mineral resources company listed on the London Stock Exchange, is ready to commence development of its high grade mineral sands project in the Eastern Province. The extensive studies completed by the local Sri Lankan subsidiary, Damsila Exports (Pvt) Ltd, indicated the availability of commercial quantities of high grade mineral sands…
Anka EnergyX, a sustainable energy company in Sri Lanka, has teamed up with Harnyss USA, a global leader in cutting-edge hydrogen energy storage technologies, to introduce smart grids to small and medium-sized enterprises (SMEs) in the country. Anka EnergyX recently hosted “The Power of Hydrogen” – Sri Lanka’s 1st-ever open discussion and knowledge-sharing event on…
Once the proposal from the IMF is received; it will be presented to Parliament for consideration. The Parliament may either agree to it or propose an alternative solution. If the Government program fails, the country will be pushed to a more dangerous situation than in February-March 2022 -President emphasizes in Parliament President Ranil Wickremesinghe, announced…
Reuters – Sri Lanka expects final approval from the International Monetary Fund for a $2.9 billion loan in the third or fourth week of this month, the president said on Tuesday, adding that with fresh support from China, all funding requirements had been met. The nation of 22 million people is struggling with its worst…
The tourism and hospitality landscape in Nuwara Eliya known as Little England will see the addition of a unique luxury property this year, with the Board of Investment (BOI) approved ‘Horton Heights’ setting to make its debut in the scenic city with an investment amounting to over US$ 3 million. Owned by Al Araf Hotels…
It is with deep sorrow that we announce the demise of former Governor of the Central Bank of Sri Lanka (CBSL), Mr. H.B. Dissanayake. He passed away at the age of 85 on the 05th of March 2023. Mr. Dissanayake functioned as the 09th Governor of the CBSL from 1 July 1992 to 15 November…
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