Sri Lanka’s economic recovery is gaining momentum, with the continuation of the International Monetary Fund (IMF) Extended Fund Facility (EFF) arrangement and progress on structural reforms being key factors, the Central Bank announced. However, th

Sri Lanka’s tourism sector is gearing up for a major transformation, as the authorities unveil an ambitious plan to make the country one of the world’s most dynamic and sought-after destinations.

Sri Lanka’s tourism sector is gearing up for a major transformation, as the authorities unveil an ambitious plan to make the country one of the world’s most dynamic and sought-after destinations.

Leasing and debt installment payers voiced concerns over Central Bank’s silence regarding the questionable practices of unregulated online loan providers in Sri Lanka.

Sri Lanka’s dairy stakeholders urged the government to reconsider the decision to increase the Value Added Tax (VAT).

In a promising sign for Sri Lanka’s economy, tourism earnings soared to a pre-pandemic peak of US$ 341.8 million in January....

The Sri Lankan Micro Small and Medium Chamber of Commerce continues to remain irked with the Central Bank for its strong position on parate execution and this time took a step further by alleging the governor is misleading the government and public i

Sri Lanka’s banking sector yesterday welcomed the move by the Central Bank to relax the restrictions imposed on Standing Facilities to Licensed Commercial Banks (LCBs) under Open Market Operations (OMOs) as it will help improve liquidity. Sri La

As Sri Lanka strives to come out of its debt vulnerability, the government assured efforts are underway to implement a debt restructuring framework within the first half of the year 2024. President Ranil Wickremesinghe, while detailing out the progre

Sri Lanka’s aspirations to become a maritime hub are facing setbacks due to delays in ratifying crucial maritime conventions and updating national legislation, according to a prominent maritime law expert.

Sri Lanka’s tourism industry marked a resounding start to the new year by receiving more than 200,000 international visitors throughout the month of January.

Sri Lanka’s book industry yesterday came on to one platform and asserted that the imposition of an 18 percent Value Added Tax (VAT) on books is no different from slapping a tax on reading. The industry collectively called for an immediate reversal

Marking another milestone in Sri Lanka’ State Owned Enterprises (SOEs) reform journey, plans are afoot to enact the draft SOE Act by the first half of 2024, granting the much needed legislative authority and operational effect to the SOE reform p

Sri Lanka’s merchandise trade deficit widened in December 2023 when compared with the corresponding month in 2022, due to the combined impact of low export earnings and high import expenditure. The data released by the Central Bank showed that the

A top free market capitalist this week cautioned that the current International Monetary Fund (IMF)-backed high tax regime could give further rise to informal economy​ in Sri Lanka, thereby slowing down the economic recovery and ultimately narrowi

The cumulative merchandise exports during the January to December 2023 period dipped to US $ 11.85 billion when compared to the corresponding period in 2022. The island nation saw its total exports reach US $ 14.94 billion in 2023, including merchand

Despite a lackluster start, the Colombo Stock Exchange is on track to become one of the top-performing frontier markets. According....

Sri Lanka cannot simply dismiss its engagement with the International Monetary Fund (IMF), President Ranil Wickremesinghe emphasised while citing the complexities that could arise, if a decision is made to do so.

President Ranil Wickremesinghe this week expressed unwavering confidence in Sri Lanka’s potential to play a pivotal role in the global confectionery industry. Emphasising the need for local stakeholders to broaden their horizons, he urged concerted

The container throughput at the Port of Colombo experienced a modest recovery in 2023, rebounding from the effects of the economic crisis and political and social unrest of the preceding year.

In line with widespread predictions, the Central Bank opted to keep its key policy rates unchanged at 9 and 10 percent during its inaugural Monetary Policy announcement for the year.

Sri Lanka’s largest industrial exporter, the apparel sector, saw its performance for the whole of 2023 dip significantly, with its earnings contracting by 19 percent year-on-year (YoY).

Sri Lanka’s reform initiatives garnered positive feedback from the visiting International Monetary Fund (IMF) team during their recent routine assessment. However, despite this encouraging development....

Leveraging the effectiveness of the Central Bank of Sri Lanka on the control over inflation, the International Monetary Fund (IMF) emphasised the importance of maintaining a prudent approach in future monetary policy decisions.

The Committee on Public Finance (COPF) slammed the Ministry of Finance and the Inland Revenue Department for failure to collect foregone taxes from major corporations connected to the sugar scam as outlined in the forensic report by the

The Ceylon Tea cuppa is expected to face short-term constraints as it steers through 2024 but the regulatory initiatives and global trends are expected to shape the industry’s outlook, the tea brokers said. The enforcement of the B60 programme, wh

Tourist arrivals to Sri Lanka crossed the 100,000 milestone within the first 15 days in January, signaling a remarkable spike in global interest in the island nation.

The banks are set to receive guidelines for the establishment of business revival units, aimed at assisting the small and medium enterprises (SMEs) affected by the recent crises.

The Central Bank will review the remaining restrictions on the outflows from the capital account and gradually start lifting them by taking into account the domestic market foreign exchange liquidity condition improvement. “With the observed improv

The government expressed confidence in the International Monetary Fund (IMF) exhibiting flexibility by overturning the elimination of VAT exemption for Destination Management Companies (DMCs)