Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) accelerated to 1.7% in June 2024 from 0.9% in May 2024. This acceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Even with this acceleration, inflation remained well below the inflation target …
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State Minister for Finance Shehan Semasinghe, announced that all uncertainties surrounding Sri Lanka’s debt sustainability have been resolved. He noted that while the international community has shown optimism about Sri Lanka’s debt restructuring, some local parties remain sceptical for political reasons. State Minister Semasinghe made these remarks during the press briefing titled “Collective Path to a Stable Country” held at …
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Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) recorded an index value of 54.5 in May 2024, indicating an improvement in construction activities. Many construction projects were back on course in May after the extended holidays of the previous month. However, several respondents mentioned that the prevailed adverse weather conditions had dampened the expected improvement. New Orders marginally …
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The Central Bank of Sri Lanka (CBSL) wishes to announce the implementation of the Banking (Amendment) Act, No. 24 of 2024, effective from 15.06.2024. These amendments were formulated with a view to further strengthening the legal and regulatory framework applicable for licensed commercial banks and licensed specialised banks (licensed banks) to enhance the resilience of the banking sector of Sri Lanka. …
Continue ReadingHeadline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) accelerated to 1.7% in June 2024 from 0.9% in May 2024. This acceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Even with this acceleration, inflation remained well below the inflation target …
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Minister of Foreign Affairs and President’s Counsel Ali Sabri, stated that the successful debt sustainability process with bilateral creditors will provide Sri Lanka with an advantage of approximately US $ 17 billion. The minister also stated that this situation will facilitate successful negotiations regarding international sovereign debts. Minister of Foreign Affairs Ali Sabry revealed this addressing the Media briefing today …
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Director General of the Department of Trade and Investment Policy Mr. K.A. Vimalenthirarajah, Controller General of the Department of Import-Export Control Ms. Upulmalee Premathilaka, honored guests and esteemed colleagues, including guests from outside Sri Lanka including Singapore, Philippines, Maldives, and Malaysia. I am so glad to be with you this morning at the first-ever Sri Lanka Strategic Trade Forum. It …
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Good morning,. It is an honor to be here today at the ASPIRE-Sri Lanka Project Closure and Felicitation Ceremony. How wonderful to have just heard from a number of the women involved in this project, to hear their personal stories on how their livelihoods were uplifted. And to hear women talk about the impact on their families, their children. Not …
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In a significant milestone for Sri Lanka’s economic revitalization efforts, the nation has successfully finalized comprehensive debt restructuring agreements with key bilateral creditors. On June 26, 2024, Sri Lanka concluded negotiations with the Official Creditor Committee (OCC) and China Exim Bank, marking pivotal strides towards stabilizing its financial footing amid recent economic challenges. The agreements, valued at a combined USD …
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President Ranil Wickremesinghe emphasized that the government is placing special focus on integrating economic and technical sectors through advancements in computer and information technology. The President highlighted the vision to transform Colombo Port City into a financial zone facilitating offshore activities and attracting investments in Sri Lanka, with a strong emphasis on the development of enterprises and the utilization of …
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