Sri Lanka is on the verge of a major digital transformation as the government accelerates efforts to modernize the economy.
Continue Reading
Inflation could possibly hover around 2 percentage points above inflation target Headline inflation is forecast to converge to targeted 5% level over medium term, supported by implementation of appropriate policy measures Economic growth is expected to continue its rebound over medium term, although at a moderate pace
Continue Reading
Manila-based Asian Development Bank is in talks to finance Sri Lanka with 900 million US dollars in 2025, after providing 808 million in 2024, to help the country emerge from an economic crisis, officials said.
Continue Reading
Remittances from Sri Lankans working abroad have continued to be strong providing much needed heft for the country’s strengthening external sector and thereby the broader economy.
Continue Reading
The Central Bank says that headline inflation deviation from the target in the second and third quarters of 2024 was due to transitory supply-side factors, especially significant reductions in energy prices.
Continue Reading
The Colombo High Court has moved to February 21 to deliver its decision pertaining to the reply submissions by the Bribery Commission in relation to the case filed against former Central Bank Governor Ajith Nivard Cabraal and a group of defendants.
Continue Reading
The World Bank reaffirmed its support for Sri Lanka with plans to finance three key projects over the next three months totaling $200 million.
Continue Reading
The Central Bank has taken steps to regulate informal money transfer systems including Undial and Hawala to ensure financial stability and prevent illicit activities.The Undial and Hawala systems are informal, trust-based methods of transferring money, common in South Asia and West Asia.
Continue Reading
Sri Lanka central bank’s net foreign assets rose to about 310 million US dollars in November 2024, official data show, as it bought foreign exchange outright through deflationary policy and also settled reserve related liabilities.
Continue Reading
Sri Lanka has renewed a $1.4 billion worth Yuan currency swap with China during the official Beijing visit of President Anura Kumara Disanayake, a joint statement by the both countries said.
Continue Reading
