Central Bank of Sri Lanka Co-hosted the 5 th CBSL-ADBI-APAEA Macroeconomics Conference

The Central Bank of Sri Lanka (CBSL) in collaboration with the Asian Development Bank Institute (ADBI) and the Asia-Pacific Applied Economics Association (APAEA), co-hosted the CBSL-ADBI-APAEA Macroeconomics Conference for the fifth consecutive year on 06 September 2024. This year’s conference theme was ‘Inflation and Exchange Rate Dynamics in Asia and the Pacific. Inaugurating the Conference, Dr Nandalal Weerasinghe, the Governor …

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Government debt rises despite restructuring efforts in Q2 2024 – Ministry of Finance

Despite finalising debt restructuring agreements with official creditors and International Sovereign Bond (ISB) holders, the government’s total debt marginally increased by 0.25 per cent in the second quarter of 2024, according to the latest quarterly debt report of the Ministry of Finance. The report highlighted that the government’s total debt reached Rs.100.65 billion by the end of June 2024, up …

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Record-Breaking Customs Revenue: Rs.1000 Billion Achieved

For the first time in history, Sri Lanka Customs has achieved record revenue of Rs.1, 000 billion (Rs. 01trillion) during the first eight months of this year, thanks to the opportunity given to the administrative authority and officials to operate independently without external interference. The International Monetary Fund (IMF) has set a revenue target of Rs.1, 534 billion for 2024. …

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Standoff With IMF Could Delay Financial Aid for Years – Ministry of Finance

The Finance Ministry of Sri Lanka has issued a statement addressing recent misconceptions regarding the country’s debt restructuring process and its engagement with the International Monetary Fund (IMF). The statement, titled “Clarifications on Debt Restructuring and the Debt Sustainability Analysis,” emphasizes that any country has the right to challenge the IMF’s Debt Sustainability Assessment if it disagrees with the findings. …

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Future Investment Company to Include State Assets

President Ranil Wickremesinghe announced plans to establish a new investment company that will manage state assets, ensuring that the rights of the people are protected. He also stated that new laws would be introduced to support this initiative. Additionally, the President highlighted the potential for new investments that will generate assets and help create a structured retirement planning system. These …

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Australia’s United Petroleum expands to Sri Lanka’s fuel market

United Petroleum of Australia has officially joined the energy sector in Sri Lanka, by signing an agreement with the Board of Investment of Sri Lanka (BOI). According to the BOI, United Petroleum of Australia has made an initial investment of US$ 27.5 million via the agreement. The BOI revealed that the company will take over 150 existing fuel stations across …

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It’s the People’s Responsibility to Support the Government’s Program to Rebuild the Country’s Economy

President Ranil Wickremesinghe emphasized the strength and talent of his team, asserting that they are well-equipped to overcome any challenge facing the country. Speaking at the 37th Annual Conference of the Organization of Professional Associations of Sri Lanka (OPA) at the Shangri-La Hotel, Colombo, The President highlighted the critical role of public support in ensuring the success of the government’s …

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Claims of Large Outstanding Taxes Are an Illusion

Commissioner General of the Excise Department M.J. Gunasiri dismissed claims of significant arrears in three major government revenue sources—namely the Inland Revenue Department, Sri Lanka Customs, and the Excise Department—as myths. Speaking at the press briefing titled “Collective Path to a Stable Country” held at the Presidential Media Centre (PMC), he clarified that the outstanding tax amount for these three …

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Dr. Nandalal Weerasinghe earns ‘A’ grade in Global Finance’s Central Banker Report Cards 2024

Global Finance magazine has released the names of Central Bank Governors who earned the highest grades, “A+”, “A” or “A-”, in the Central Banker Report Cards 2024. The full Central Banker Report Cards 2024 grade list will appear in Global Finance’s October print and digital editions as well as online at GFMag.com. The Central Banker Report Cards, published annually by …

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