IMF says Sri Lanka still needs deals with official and external private creditors
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – The International Monetary Fund said it remains critical for Sri Lanka to swiftly reach final agreements with its official lenders and reach a…
Sri Lanka seeks bids in divestment of loss-making state carrier
COLOMBO (Reuters) – Sri Lanka has invited bids for state-run carrier SriLankan Airlines as the island nation looks to reduce losses incurred by government-owned enterprises under a $2.9 billion International Monetary Fund…
Sri Lanka inflation rate eases to 0.8% in Sept vs 2.1% in Aug
COLOMBO (Reuters) -Sri Lanka’s consumer price inflation rate eased to 0.8% year-on-year in September from 2.1% in August, the statistics department said on Monday. The National Consumer Price Index captures broader retail…
IMF wants strong budget, narrower deficit from Sri Lanka
NEW DELHI (Reuters) -The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and…
IMF: Sri Lanka can discuss proposals from private creditors including GDP-linked bonds
MARRAKECH, Morocco (Reuters) – Sri Lanka’s authorities can negotiate any proposals private creditors make, such as issuing GDP-linked bonds, a senior International Monetary Fund official said on Friday. Krishna Srinivasan, Director of…
Sri Lanka president to visit China as debt talks progress – source
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lankan President Ranil Wickremesinghe will visit China next week as the crisis-hit country makes progress on debt restructuring talks with its biggest lender, a source…
Sri Lanka bondholders sent $12 billion debt rework proposal to government -sources
By Jorgelina do Rosario LONDON (Reuters) – Sri Lanka’s private creditors have sent a proposal on how to restructure $12 billion of overseas debt, including a new type of bond designed to…
Factbox-Sri Lanka still in debt restructuring talks with creditors
(Reuters) – Sri Lanka, mired in its worst economic crisis in decades, is in debt restructuring talks with a range of bilateral creditors, including China, its largest single creditor. The island nation…
Deloitte expands as PwC Maldives, Sri Lanka network firms exit – memo
BENGALURU (Reuters) -Accounting giant Deloitte is acquiring some of rival PricewaterhouseCoopers’ (PwC) Maldives and Sri Lanka network firms, according to a Deloitte memo seen by Reuters, strengthening the company’s presence in the…
Sri Lanka likely to resume rate cuts Thursday to spur growth- Reuters poll
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to resume interest rate cuts on Thursday as it attempts to bolster a recovery from its worst economic crisis in…
New IMF funds for Sri Lanka may face delay after review sees revenue shortfall
By Uditha Jayasinghe COLOMBO (Reuters) -The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9 billion bailout package, due to a potential…
Some Sri Lanka creditors seeking debt restructuring deal without China – Bloomberg News citing sources
(Reuters) – Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on…
Sri Lanka bondholders talks focus on state enterprise debt, domestic banks – sources
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – Talks between Sri Lanka and its international bondholders will seek common ground on how much of a hit should be incurred by…
IMF staff to visit Sri Lanka in Sept for first programme review
LONDON (Reuters) – An International Monetary Fund (IMF) staff team will visit Colombo in a month’s time for the first review on Sri Lanka’s loan programme, a spokesperson said on Tuesday. The…
Sri Lanka lifts import ban on trucks, heavy vehicles
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka on Tuesday lifted a ban on imports of trucks and other heavy vehicles for the first time since March 2020, according to a gazette notification.…
Sri Lanka central bank cuts statutory reserve ratio by 200 bps
By Uditha Jayasinghe COLOMBO (Reuters) – The Central Bank of Sri Lanka has cut the statutory reserve ratio for commercial banks by 200 basis points to 2%, effective Aug. 16, it said…
Sri Lanka central bank chief: monetary policy transmission still incomplete
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) -Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country’s central bank, Nandalal Weerasinghe, said at…
Sri Lanka aims to complete free trade talks with Thailand by February
COLOMBO (Reuters) – Sri Lanka plans to complete free trade talks with Thailand by February and sign an agreement in March, Sri Lanka’s cabinet spokesperson said on Tuesday, as part of an…
Sri Lanka central bank to cut rates further on faster inflation drop
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is widely expected to loosen monetary policy further on Thursday, following a massive 250-basis-point interest rate cut in June, as it looks…
Exclusive-World Bank set to approve $700 million for Sri Lanka next week -sources
By Uditha Jayasinghe COLOMBO (Reuters) – The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources…
Sri Lanka extends freeze on outward capital transactions by 6 months
COLOMBO (Reuters) – Sri Lanka’s government has decided to extend a restriction on outward capital transactions by six months due to pressure on its limited foreign exchange reserves, cabinet spokesperson Bandula Gunawardena…
Sri Lanka lifts import limits on 286 items as crisis eases
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka lifted import restrictions on 286 items, the Finance Ministry said on Saturday, a fresh sign the South Asian nation is starting to emerge from…
Sri Lanka to remain on policy loosening course, next rate cut likely in August -analysts
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is likely to continue to ease monetary policy, following a 250 basis points rate cut on Thursday, as it tries to boost…
IMF deputy urges Sri Lanka to keep up momentum on economic reforms
WASHINGTON (Reuters) – Sri Lanka is showing a “strong commitment” to implementing economic reforms but must continue this momentum amid a challenging economic environment, International Monetary Fund Deputy Managing Director Kenji Okamura…
Sri Lanka central bank to hold rates as inflation stays high
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently…
IMF delegation to arrive in Sri Lanka on Thursday
COLOMBO (Reuters) – An International Monetary Fund (IMF) staff team will arrive in Sri Lanka on Thursday, a statement from the global lender said as the crisis-hit country prepares for the first…
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