Washington, DC: During the 2022 IMF and World Bank Spring Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva and other senior members of IMF management met with a Sri Lankan delegation, led by Finance Minister Ali Sabry and Central Bank of Sri Lanka Governor Nandalal Weerasinghe, and discussed policy actions to address economic challenges. The…
Bloomberg – China must be treated just like any other creditor once talks begin to restructure Sri Lanka’s debt, India’s Finance Minister Nirmala Sitharaman said she told the International Monetary Fund and World Bank. “All creditors must be treated equally and with transparency,” Sitharaman said in an interview in Washington Friday. “I’ve emphasized that point in…
Fitch Ratings has placed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers on Rating Watch Negative (RWN). The insurers are: -National Insurance Trust Fund Board -HNB Assurance PLC -HNB General Insurance Limited -People’s Insurance PLC -Continental Insurance Lanka Limited -Co-operative Insurance Company Limited -Sanasa General Insurance Company Limited Fitch has also…
Fitch Ratings has downgraded Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) Rating to ‘CC’, from ‘CCC+’, and has placed the rating on Rating Watch Negative (RWN). SLIC’s National IFS Rating of ‘AA(lka)’ has also been placed on RWN. Fitch has also taken rating action on seven other Sri Lankan insurers; please see Fitch…
Four Sri Lankan tea exporters namely, M/S. Imperial Tea (Pvt) Ltd, M/S Maltras International (Pvt) Ltd, M/S Basilure Teas (Pvt) Ltd and M/S Tea Talk (Pvt) Ltd participated at the ANUFOOD Brazil 2022 exhibition held in Sao Paulo from 12th to 14th April 2022 under the patronage of the Sri Lanka Tea Board and the Embassy of…
Sri Lanka’s finance minister said on Friday that its neighbour India and the World Bank are considering extending about $2 billion in bridge finance so it can continue essential imports. The country of 22 million people is struggling to pay for imports after a sharp drop in foreign exchange reserves which has led to a…
Serum Institute of India Ltd., the world’s largest vaccine manufacturer and a key supplier of COVID-19 inoculations to developing countries, has stopped making fresh batches of shots after its stockpile grew to 200 million doses amid a global supply glut. “We have got 200 million doses of stock. We had to shut down production in…
Sri Lanka’s overall rate of inflation as measured by the National Consumer Price Index (NCPI) on the Year-on-Year (Y-o-Y) basis has been recorded as 21.5% in March 2022, according to the Department of Census and Statistics. This was revealed in the National Consumer Price Index issued for the month of March 2022. The headline inflation…
There is an unprecedented movement in the history of our country with all sections of the community coming together in peaceful protest demanding a solution to the economic problems besetting their families and their wellbeing. Many countries are similarly facing these urgent challenges at the same time given the unprecedented post-pandemic recovery while finding a…
Sri Lanka Tourism Promotion Bureau has warmly welcomed Israeli film production house ‘United Channel Movies”(UCM) to Sri Lanka to shoot their latest feature film ” Arugam Bay” in the Eastern region of Sri Lanka. Filming to be started from 3rd May to 22nd May 2022. The main filming will be taking place in Arugam Bay, Colombo, as…
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