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 requests debt treatment in first bilateral committee meeting
(Reuters) – Sri Lankan authorities formally presented on Tuesday a request for debt treatment in the first meeting of the official bilateral creditors committee, the Paris Club said in a statement. The…
Sri Lanka apparel exports to drop by $1 billion in 2023-trade body
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s apparel export earnings could slump by $1 billion this year, a top industry expert said on Wednesday, as slowing global demand hits the crisis-hit…
Paris Club says aims to start Sri Lanka debt negotiations
PARIS (Reuters) – The Paris Club of creditor governments aims to start negotiations to restructure Sri Lanka’s debt, the group said on Friday after a creditor committee was set up this week.…
Sri Lanka central bank says sovereign lenders yet to outline debt talks plans
By Jorgelina do Rosario and Uditha Jayasinghe WASHINGTON/COLOMBO (Reuters) – Sri Lanka’s sovereign lenders have yet to inform the government how they will engage with the country to restructure its $7.1 billion…
Sri Lanka central bank likely to hold rates next week after 100 bps hike earlier
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to keep interest rates unchanged at a policy meeting next week, a month after a 100 basis points increase ahead…
Sri Lanka expects to finalise a domestic debt rework by May
By Jorgelina do Rosario and Uditha Jayasinghe LONDON/COLOMBO (Reuters) – Sri Lanka will kick off a debt rework of part of its domestic debt next month and aims to finalise it by…
IMF bailout not a silver bullet for Sri Lanka, says Moody’s Analytics
By Swati Bhat and Uditha Jayasinghe MUMBAI (Reuters) – Sri Lanka has a difficult road ahead irrespective of how much funding it receives from multilateral and global financial agencies, a senior economist…
Sri Lanka to relax currency band as it moves towards market driven exchange rate
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka will relax its currency band from next week, its central bank said on Friday, as part of efforts to move towards a market-determined exchange…
Sri Lanka economy could shrink by -3.5% to -4%, president says
COLOMBO (Reuters) – Sri Lanka’s economy could contract by -3.5 or -4.0% in 2023 after shrinking -11% last year, President Ranil Wickremesinghe said on Saturday. “From 2024, we will take this economy…
Sri Lanka hopeful of completing debt restructuring in six months, says cenbank chief
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country’s central bank…
Sri Lanka seen holding rates as inflation fight continues; IMF deal key
By Uditha Jayasinghe COLOMBO (Reuters) – The Central Bank of Sri Lanka (CBSL) is widely expected to hold interest rates steady this week, having raised them last year to their highest in…
Sri Lanka expects financing assurances from China for IMF deal within days
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka expects to get China’s backing for its debt restructuring plan within days to help unlock a $2.9 billion loan from the International Monetary Fund, a…
Sri Lanka to hold rates as inflation slows slightly, focus on IMF bailout
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9…
Sri Lanka inflation likely below 4%-5% next year if policies maintained – central bank
COLOMBO (Reuters) – Sri Lanka’s inflation would likely be below 4%-5% by the end of next year if the current fiscal policies are maintained, central bank governor Nandalal Weerasinghe said in a…
Sri Lanka postpones debt restructuring talks, hopes for IMF deal in Dec
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide…
Sri Lanka must implement budget proposals to avoid return to crisis
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure…
Sri Lanka consumer inflation hits record 73.7% in September
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s National Consumer Price Index (NCPI) rose to a new high of 73.7% in September from a year earlier, quickening from 70.2% in August, the…
Sri Lanka central bank governor sees inflation peaking – Bloomberg News
(Reuters) – Sri Lanka Central Bank Governor Nandalal Weerasinghe thinks inflation in the island nation is peaking, with price rises likely to ease this month, Bloomberg News reported on Friday. “We think…
U.N. extends Sri Lanka wartime violations monitoring, China opposes
By Emma Farge and Uditha Jayasinghe GENEVA (Reuters) -The U.N. rights body on Thursday renewed the mandate of a U.N. office to collect and preserve evidence of alleged wartime human rights crimes…
Sri Lanka top court allows proceedings against former President Rajapaksa, others
COLOMBO (Reuters) – Sri Lanka’s top court has granted permission for proceedings against former President Gotabaya Rajapaksa, the rights group which filed the case against him said in a statement on Friday.…
Japan says no pact yet with Sri Lanka on debt restructure talks
TOKYO (Reuters) -Japan has not yet reached an agreement to co-chair a debt summit with Sri Lanka’s creditors, a government official in Tokyo said on Thursday, as the island nation struggles to…
Sri Lanka cenbank to hold rates as inflation worries persist
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is likely to maintain interest rates on Thursday in an effort to get a grip on inflation which has remained stubbornly high…
Asian Development Bank vows more help for crisis-hit Sri Lanka
By Karen Lema and Tetsushi Kajimoto MANILA/TOKYO (Reuters) – The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a top official of the regional lender said…
Sri Lanka looks to revive free trade deal with Singapore
COLOMBO (Reuters) – Sri Lanka will step up efforts to revive a stalled free trade pact with Singapore, President Ranil Wickremesinghe told the city state’s premier on Tuesday, his office said in…
Sri Lanka to unveil debt restructuring plan to creditors
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lankan authorities will formally hold talks with international creditors on Friday to start the process of restructuring billions of dollars of its debt and share…
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