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, …
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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 …
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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, …
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(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 …
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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 …
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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 …
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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 …
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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 …
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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, …
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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 …
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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 …
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(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 …
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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 …
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(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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …