Sri Lanka Secures USD 200 Million from World Bank’s IDA for Second Phase of RESET Program

The International Development Association (IDA) of the World Bank Group (WBG) has approved a USD 200 million financing package to support the second phase of Sri Lanka’s Resilience, Stability, and Economic Turnaround (RESET) Development Policy Financing (DPF) program. The agreement was signed today (07) by K.M. Mahinda Siriwardana, Secretary to the Ministry of Finance, Economic Development, Policy Formulation, Planning, and …

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President Reaffirms Commitment to IMF Objectives, Advocates for Alternative Solutions to ease the burden on people

In a significant meeting today, President Anura Kumara Dissanayake engaged directly with IMF delegation included Director of the Asia Pacific Department, Krishna Srinivasan and SeniorMission Chief Dr. Peter Breuer to discuss the progress of Sri Lanka’s on-going IMF programme. The President was accompanied by key Sri Lankan officials, including Central Bank Governor Dr.Nandalal Weerasinghe, Secretary to the Treasury Mr. Mahinda …

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High-Level IMF Team Meets Sri Lankan Government to Discuss Economic Reforms

A high-level delegation from the International Monetary Fund (IMF) arrived in Sri Lanka today (02) to engage with the newly formed government led by President Anura Kumara Dissanayake. The primary objective of the visit was to initiate discussions on the progress of the IMF Program and necessary steps towards the release of the fourth tranche of the $ 2.9 billion …

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High-level IMF team to arrive in Sri Lanka today

Former president Ranil Wickremesinghe-led government was negotiating with the IMF for the release of the fourth tranche of the $2.9 billion facility A high-level team of the International Monetary Fund will arrive in Sri Lanka on Wednesday (October 2, 2024) to meet the new government headed by President Anura Kumara Dissanayake and discuss the latest economic reforms supported by the …

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AKD Government abandons plan to privatize SriLankan Airlines – Chairman of the NPP Economic Council

The National People’s Power (NPP) government led by President Anura Kumara Dissanayake is to abandon initial plans by the previous rule to sell off or divest the cash-strapped SriLankan Airlines, an official said. The Chairman of the NPP Economic Council Prof. Anil Jayantha said the government believes that the national career should remain with the state given its significance for …

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Release of “Sri Lanka Socio-Economic Data – 2024” Publication

“Sri Lanka Socio-Economic Data – 2024”, the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The current data folder is the 47th volume of the series. This easy-to-carry booklet contains information categorised under 14 topics, namely, Country Profile; Key Economic Indicators; Country Comparisons; Socio Economic Conditions; Human Resources; National Accounts; Agriculture; …

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The Central Bank of Sri Lanka maintains policy interest rates at their current levels

The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 26 September 2024, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 8.25 per cent and 9.25 per cent, respectively. The Board arrived at this decision after carefully …

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Presidential Subsidy Initiative Supports Farmers and Fishermen

Allocate Rs. 25,000 per hectare for the Maha season as a fertilizer subsidy. Implement a fuel subsidy specifically for fishermen. Honourable President Anura Kumara Dissanayake has instructed the Treasury to provide an allowance of Rs. 25,000 per hectare to paddy farmers for the Maha season of 2024/25. According to this initiative, the fertilizer subsidy, which was previously set at Rs. …

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Consumer Affairs Authority calls for reduction of bakery product prices

According to the Consumer Affairs Authority (CAA), the prices of egg-based bakery products should also decrease in line with the reduction in the price of eggs in the market. He further emphasized that steps should be taken to pass this benefit on to consumers. The Chairman of the CAA, Thusitha Indrajith, stated that the price of an egg, which was …

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