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 c. bank governor says sees more stability, to stay in post
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 stability in…
JPMorgan backs Sri Lanka bonds on bets that crippling crisis to ease
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 with the…
Sri Lanka needs $75 million in next few days for essential imports – PM
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 the country…
Explainer-How Sri Lanka spiralled into crisis
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 brother, the…
Shorter-dated Sri Lanka dollar bonds slip after deadly clashes, political turmoil
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, killing seven…
Sri Lanka teachers, bank workers join mass walkout over economic crisis
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 President Gotabaya…
Analysis-Complex web of creditors, politics threatens Sri Lanka restructuring
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 debt, analysts…
S&P cuts Sri Lanka to ‘selective default’ on missed payments
(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 said on…
Exclusive-Crisis-hit Sri Lanka, India revive talks to link electric grids
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 New Delhi’s…
Sri Lanka regulator halts Colombo Stock Exchange next week
(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 Monday. (Reporting…
Analysis – Sri Lanka bondholders brace for big losses in debt restructuring
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 it would…
Sri Lanka industry says 2022 exports could tumble 20%-30% on economic crisis
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 freight charges…
Exclusive-Ex-Sri Lanka cenbanker Weerasinghe says he accepts offer to be new governor
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 the bank’s…
U.S. EXIM Bank formalizes Russia pullout; approves Sri Lanka, Albania, Iraq deals
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 guarantee deals…
IMF to start talks with Sri Lanka on loan request in coming days
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 Asian country…
Sri Lanka to seek World Bank support alongside IMF loan programme – sources
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 (IMF) rescue…
Sri Lanka govt panel says international financial assistance needed
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 assistance as…
Sri Lanka signs $1 billion credit line with India
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 medicine, officials…
Sri Lanka finance minister meets top IMF official amid economic crisis
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 to deal…
Top IMF official to visit Sri Lanka this week to brief about economy’s state
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 of the…
Sri Lanka to allow rupee to weaken to 230 per dollar
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 attract investment…
Sri Lanka central bank hikes rates to tame inflation; urges govt to act
By Uditha Jayasinghe and Swati Bhat COLOMBO – Sri Lanka’s central bank sharply raised interest rates on Friday to staunch growing inflationary pressures and urged the government to consider measures including curbing…
Breaking News
