All Stories in Economic

Poverty high in the North – Eastern Provinces

Poverty high in the North – Eastern Provinces

Sri Lanka’s central bank will study the growing indebtedness in Tamil-majority north and east, its Governor Indrajit Coomaraswamy said. “We are concerned about the rise in household debt,” the governor said, referring to a prevalent post-war challenge facing families that are rebuilding their lives. Following …

Shares end near one-year high

Shares end near one-year high

Sri Lankan shares ended marginally higher on Friday, near a one-year high, led by gains in blue chips such as Ceylon Tobacco Company Plc and conglomerate John Keells Holdings Plc. Stockbrokers said they expect the bullish trend to continue next week with the central bank …

Chinese Buyers Behind Surging Demand For Latest Bonds

Chinese Buyers Behind Surging Demand For Latest Bonds

A surge in demand for Sri Lanka’s latest dollar bond is putting a spotlight on the appetite for emerging-market securities, even amid the Federal Reserve’s tightening campaign. The small South Asian country garnered more than $11 billion of orders for the $1.5 billion of 10-year notes …

IMF reaches staff-level agreement

IMF reaches staff-level agreement

On May 3rd the IMF announced that it had reached a staff-level agreement with the government of Sri Lanka in the second review of the country’s existing extended fund facility (EFF). Analysis It seems likely that the conclusion of the staff-level discussions will clear the way for …

Rupee edges up

Rupee edges up

The Sri Lankan rupee ended slightly higher on Thursday as exporters sold the dollar and a statement from the International Monetary Fund (IMF) that it may review the country’s request to complete a second loan review boosted the sentiment. The move comes a day after …

Sri Lanka faces trade, human rights link

Sri Lanka faces trade, human rights link

The pain of Sri Lanka’s civil war, which ended in May 2009, continues to haunt residents in the eastern coastal town of Batticaloa and its surrounding villages. Punyamurthi Jeyatheepa, a 32-year-old social worker, is still searching for her husband, Pathmashri, who left their home on …

Shares close at 11month high

Shares close at 11month high

Sri Lankan shares closed at a more than 11-month high in heavy trading on Friday as foreign buying for 26 sessions in a row took net inflows into equities to 13.9 billion rupees ($91.39 million) and boosted sentiment. Foreign investors bought shares worth 708.2 million …

Shares hit 6-month high

Shares hit 6-month high

Sri Lankan shares gained on Friday to hit a more than six-month closing high on foreign buying in market heavyweight John Keells Holdings, helping boost the overall sentiment. Foreign investors net bought equities worth 1.35 billion rupees ($8.88 million) on Friday, extending the week’s net …

Sri Lanka struggles to build up foreign reserves

Sri Lanka struggles to build up foreign reserves

A South Korean ship unloads its cargo of cars at the Hambantota port, the only sign of life at Sri Lanka’s newest harbor on its southern coast. The rest of …

Sri Lanka is rich

Sri Lanka is rich

Sri Lankan finance minister Ravi Karunanayake recently declared he would push capital market reform ahead in 2017 with eye-catching privatizations of state enterprises and securitization of billions of dollars of his government’s debt. These were big promises, but could such ideas deliver the desired results? …