Sri Lanka Reaches in Principle Agreements for Restructuring Sovereign Debt with External Commercial Creditors

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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Sri Lanka Reaches in Principle Agreements for Restructuring Sovereign Debt with External Commercial Creditors

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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CANTON FAIR ORGANIZERS VISITED EDB TO SCALE UP TRADE RALATIONSHIP BETWEEN CHINA AND SRI LANKA

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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Mirai Consulting Group Explores Investment Opportunities in Sri Lanka

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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EDB and KPMG Sri Lanka collaborated to create awareness on new EU Regulations for Environmental, Social, and Governance (ESG) Factors

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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Sri Lanka Not Out of the Woods Yet -Must Safeguard Hard-Won Gains- IMF

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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Sri Lanka Lifts Import Restrictions on Motor Vehicles Effective October 1, 2024

In a significant move the government has announced the lifting of the temporary suspension on motor vehicle imports, effective October 1, 2024. This decision comes after over four years of stringent import restrictions that were initially imposed to safeguard the country’s foreign exchange reserves during the economic crisis. The import ban, introduced in March 2020, was aimed at curbing the …

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Government Proposes Personal Income Tax Relief Amid Economic Recovery

As part of on-going efforts to support economic recovery and ease the burden on mid-level income earners, the government has announced proposed adjustments to the Personal Income Tax (PIT) structure. These changes are aimed at maintaining fiscal responsibility while providing relief to those most affected by recent tax reforms introduced in early 2023. The Cabinet Memorandum outlines a proposed amendment …

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Will Work With Government Selected By The People – IMF

The International Monetary Fund (IMF) Communications Department Director Julie Kozack said it is ready to move forward with programme discussions after the Presidential election is held and a new government is formed based on the choice of the people. Julie Kozack made these remarks while responding to a question whether it is possible to renegotiate or revisit the debt sustainability …

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Sri Lankan tourism, culture, food and tea promoted in The Hague

The Embassy of Sri Lanka in the Netherlands, with the support of the Sri Lanka Tourism Board (SLTPB), participated in the “Embassy Festival 2024” held in The Hague recently. The Embassy organized two stalls showcasing Sri Lankan tourism, culture, cuisine, tea and handicrafts to the Dutch and other international visitors. The “Embassy Festival” is an annual event organized by the …

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