Reuters – Sri Lanka will need about $3 billion in external assistance in the next six months to help restore supplies of essential items including fuel and medicine, its finance minister told Reuters on Saturday. The island nation of 22 million people has been hit by prolonged power cuts and shortages which have drawn protesters…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 08 April 2022, decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 700 basis points to 13.50 per cent and 14.50 per cent, respectively, effective from the close…
Dr. P. Nandalal Weerasinghe assumes duties as the 17th Governor of the Central Bank of Sri Lanka (CBSL). Dr. Weerasinghe is a career central banker, with extensive experience in Monetary and Exchange Rate Policy. Dr. Weerasinghe was promoted as Deputy Governor on 27 September, 2011 while he was serving as an Alternate Executive Director at…
“Without a stable supply of fuel and energy, the economy could lose around USD $50 million a day in export revenue”, industry leaders warn[1] Despite several warning signs, policymakers still not prioritising solutions to ongoing economic crisis 23 industry associations, representing private sector firms engaged in export, import and logistics industries warned of catastrophic consequences…
Joint Chambers welcome the appointment of two experienced professionals to the posts of Governor, Central Bank and Secretary, Ministry of Finance and wish both of them all success. We also extend our fullest cooperation to the new appointees in navigating the Sri Lankan economy out of its current predicament. At the same time, the Joint…
Reuters – Sri Lanka must urgently seek funds from multilateral lenders and aim to restructure a debt payment due in July, its outgoing finance minister said on Thursday, pleading for political stability amid the country’s worst economic crisis in decades. The opposition and some partners of the ruling coalition rejected calls this week for a…
Amana Bank crossed the LKR 100 Bn milestone in Customer Deposits as of Q1 2022 thereby becoming one of the fastest Licensed Commercial Banks to reach this mark within a very short period. The Bank’s accelerated growth in deposits is owing to the wide and growing acceptance of its people friendly banking model across all…
Established in 1999, the Chamber of Young Lankan Entrepreneurs (COYLE), the nation’s premier business chamber which aims to encourage collaboration between business entities, including supporting and developing local entrepreneurs, while providing assistance to its members in commercial business matters, has voiced its concern regarding the inability of many businesses to sustain their regular functions due…
Sri Lanka High Commissioner to Bangladesh said that profound historical and cultural relations have lasted between Sri Lanka and Bangladesh and it is time to deepen the economic cooperation between the two countries. High Commissioner Professor Sudharshan Seneviratne highlighted the idea at a meeting held with the President of the Federation of Bangladesh Chamber of…
Urges all parties to put differences aside and work together to resolve crisis In a recent statement, the apparel industry has urged all stakeholders to put aside differences and work together to resolve the current crisis, which has imposed severe hardships on people and hampered the economy. If the current macroeconomic crisis continues for longer…
Video Story
