International Monetary Fund Chief Kristalina Georgieva in a congratulatory letter to Sri Lankan President Anura Kumara Dissanayake, reiterated the IMF’s readiness to assist the country through its future development and reform goals. “We at the IMF greatly value the excellent engagement that we have had with Sri Lanka over the years. I would like to take this opportunity to assure …
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President Ranil Wickremesinghe emphasized that discussions with private bondholders have successfully concluded, marking a significant step in freeing the country from bankruptcy. He further stated that an official acknowledgment of Sri Lanka’s recovery from bankruptcy is expected soon, along with the swift implementation of plans to advance the country. The President made these remarks during a meeting with the Executive …
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President Ranil Wickremesinghe emphasized that discussions with private bondholders have successfully concluded, marking a significant step in freeing the country from bankruptcy. He further stated that an official acknowledgment of Sri Lanka’s recovery from bankruptcy is expected soon, along with the swift implementation of plans to advance the country. The President made these remarks during a meeting with the Executive …
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Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in August 2024. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 55.5 in August 2024. This indicates an expansion in manufacturing activities,yet at a slower rate compared to the previous month. All the sub-indices, except for Employment, remained above the neutral threshold …
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On the 19th of September 2024, Sri Lanka announced that it has reached Agreements in Principle on the restructuring of approximately USD$ 17.5 billion of external commercial debt (as of end 2023). These agreements have been reached with holders of its International Sovereign Bonds, following negotiations with the Ad Hoc Group of Bondholders (“AHGB”), a representative group of international investors, …
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A delegation from the Canton Fair Operations Department of China visited Sri Lanka Export Development Board (EDB) on 30th August 2024 to scale up trade relationship between the two countries through participating at trade promotional events such as Canton Fair 2024. China is the 10th export destination for Sri Lanka in 2023. The total export value from Sri Lanka …
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A high-level delegation from Mirai Consulting Group, Japan, recently visited Sri Lanka to explore potential investment opportunities in various sectors. The delegation, led by Okada Atsushi, COO of Mirai Consulting Group, met with the EDB Chairman at the EDB headquarters. The purpose of the visit was to identify industries that aligned with the investment interests of Japanese companies and to …
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Export Development Board (EDB) and KPMG Sri Lanka jointly organized a knowledge-sharing session on the new European Union (EU) regulations concerning Environmental, Social, and Governance (ESG) factors on 11th September 2024. The session took place at the auditorium of the Postgraduate Institute of Management (PIM), with around 200 Sri Lankan export companies. The European Union has introduced regulations that will …
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The Finance Ministry today rejected the notion that Sri Lanka is not servicing foreign debt and that the economic stabilization is solely due to a suspension of external debt payments. The Ministry noted that it has been observed that there is a perception in society that the prevailing economic stabilization in Sri Lanka is entirely due to external debt not …
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The International Monetary Fund (IMF) has cautioned that while Sri Lanka has made notable progress in its economic recovery, the nation is still vulnerable and must work to protect the hard-earned gains it has achieved so far. Speaking at an IMF press briefing on September 12, Director of the IMF Communications Department Ms. Julie Kozack, emphasized the importance of sustained …
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