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Sri Lanka to get more ADB, WB budget support loans after IMF review
Sri Lanka is anticipating increased budget support loans following an expected International Monetary Fund (IMF) review in December, according to Central Bank Governor Nandalal Weerasinghe. The loans from the IMF, Asian Development Bank, and World Bank are aimed at aiding budgetary financing. Wee...
2023-11-27
Economy Next
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Sri Lanka’s 2024 budget to see new welfare, revenue goals amid political concerns
Sri Lanka's 2024 budget, set for presentation, emphasizes crucial IMF deficit targets for economic recovery. President Wickremesinghe faces a balancing act, tethered between IMF obligations and public sentiment. Meeting the 13.3% GDP rev...
2023-11-13
Economy Next
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Sri Lanka's budget will strive to return economy to growth, meet IMF targets
Sri Lanka's upcoming 2024 budget announcement faces a delicate balancing act. The government aims to sustain an IMF-led bailout by increasing revenue through tax raises while steering the crisis-stricken economy towards growth. President...
2023-11-13
Reuters
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Rs. 700 b tourism debt bomb ticking
The Sri Lankan tourism industry is facing a dire situation with an outstanding debt of Rs. 700 billion, described by analysts as 'unsustainable' and in need of urgent attention from the Government and the banking sector. During a pre...
2023-11-13
Daily Ft
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Sri Lanka official remittances up 46-pct in October on improved exchange rate policies
In October 2023, Sri Lanka's official remittances surged to $517.4 million, a 46% increase from a year prior, attributed to improved exchange rates and expatriates sending more earnings. Despite this rise, official remittances have decre...
2023-11-11
Economy Next
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