Sri Lanka seeks to secure $5 billion in funds for import payments
By Uditha Jayasinghe COLOMBO – Sri Lanka seeks to secure around $5 billion in funding this year to cover repayments for fuel imports and other items bought through credit lines,…
By Uditha Jayasinghe COLOMBO – Sri Lanka seeks to secure around $5 billion in funding this year to cover repayments for fuel imports and other items bought through credit lines,…
By Uditha Jayasinghe COLOMBO – Sri Lanka is seeking help from the International Monetary Fund (IMF) for its 17th program in seven decades, needing a bailout in place before its…
COLOMBO – Sri Lanka hiked petrol prices by 20%-24% on Tuesday and also increased diesel prices by 35%-38%, Power and Energy Minister Kanchana Wijesekera said. In a message on Twitter,…
(Reuters) – An International Monetary Fund virtual mission to Sri Lanka is expected to conclude technical talks on a potential IMF loan program to the crisis-wracked South Asian country on…
By Uditha Jayasinghe and Swati Bhat COLOMBO – Sri Lanka’s central bank governor said on Thursday he will stay on as head of the bank given an improvement in political…
LONDON – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks…
COLOMBO – Sri Lanka’s prime minister said on Monday the country needed to secure $75 million in foreign exchange in the next few days to pay for essential imports, as…
NEW DELHI – Sri Lanka’s economic crisis has turned into deadly violence. Eight people died and over 200 were injured on Monday, the country’s powerful prime minister quit and his…
LONDON – Sri Lanka’s shorter-dated sovereign dollar bonds slipped as much as 1 cent on Tuesday, a day after protests over the government’s handling of the economic crisis turned deadly,…
By Uditha Jayasinghe and Alasdair Pal COLOMBO – Many schools in Colombo were shut and several train stations deserted on Thursday as teachers and train drivers joined mass walkouts demanding…
By Jorgelina do Rosario LONDON – Social unrest, political uncertainty and a complex web of creditors could scupper Sri Lanka’s push for a swift overhaul of its $12 billion overseas…
(Reuters) – S&P Global Ratings cut Sri Lanka’s rating as an issuer of foreign currency debt to ‘selective default’ after the South Asian country missed sovereign bond interest payments, S&P…
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO – India and Sri Lanka have resumed talks on linking their electricity grids, officials told Reuters on Tuesday, a step that could aid…
(Reuters) – The Securities And Exchange Commission of Sri Lanka said on Saturday it was directing the Colombo Stock Exchange to suspend the stock market for five business days from…
By Jorgelina do Rosario and Karin Strohecker (Reuters) – Sri Lanka’s creditors face losing a third to half of their investment in the country’s dollar bonds, after the government announced…
COLOMBO – Sri Lankan leaders from garments, tea and other industries said on Friday the country’s goods and services exports could plunge 20% to 30% this year due to high…
By Uditha Jayasinghe COLOMBO – Former Central Bank of Sri Lanka (CBSL) official P. Nandalal Weerasinghe said on Monday he had accepted an offer from the country’s president to become…
By David Lawder WASHINGTON – The U.S. Export-Import Bank’s board of directors on Thursday voted to formalize the bank’s withdrawal from any further business in Russia and approved financing and…
WASHINGTON – The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice said on Thursday, as the…
By Uditha Jayasinghe and Devjyot Ghoshal COLOMBO/NEW DELHI – Sri Lanka will seek World Bank assistance to stave off a severe economic crisis in addition to an International Monetary Fund…
By Uditha Jayasinghe COLOMBO – A Sri Lanka government-appointed committee on Monday said the crisis-hit country’s central bank and finance ministry must form a team to seek urgent international financial…
COLOMBO – Sri Lanka’s Finance Minister Basil Rajapaksa signed a $1 billion credit line with India on Thursday to help ease crippling shortages of essential items, including fuel, food and…
By Uditha Jayasinghe COLOMBO – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help…
By Uditha Jayasinghe COLOMBO – A senior International Monetary Fund (IMF) official will be visiting Sri Lanka on Monday and Tuesday to brief President Gotabaya Rajapaksa on the fund’s assessment…
By Uditha Jayasinghe COLOMBO – Sri Lanka’s central bank on Monday set an exchange rate limit of 230 rupees to the dollar, effectively allowing a currency depreciation it hopes will…