All Stories in Economic

Central Bank releases “Public Debt Management Report”: Debt service payments in 2012,103 per cent

Central Bank releases “Public Debt Management Report”: Debt service payments in 2012,103 per cent

     The Central Bank, releasing its annual publication on “Public Debt Management in Sri Lanka, Performance in 2012 and Strategies for 2013 and beyond” Friday said it aims to reduce foreign currency debts to 30 percent of total outstanding debt by 2016 from 43 …

Court issues notice in land issue

Court issues notice in land issue

  ▶sinhala– සිංහල ▶english–   The Appeal Court issued notice on the respondents in the cases filed by 2176 Jaffna Tamils seeking relief against their land being taken over by the government. The writ applications filed by 2176 Jaffna Tamils were taken up for support …

No military training for Lankans in TN

No military training for Lankans in TN

  ▶sinhala– සිංහල ▶english– The Sri Lankan military will not be given training in Tamil Nadu, Indian Defence Minister A.K Anthony said. He said this after opening a new airbase in Thajavur, Tamil Nadu today to house a squadron of Indian Air Force lethal Su-30 …

The state Vesak festival will be conducted at the Yudaganawa Rajamaha Viharaya

The state Vesak festival will be conducted at the Yudaganawa Rajamaha Viharaya

     President Mahinda Rajapaksa  declared open the Diyawanna Vesak zone last night. Head of the Dharmayathanaya Ven. Elle Gunawansa thero, Minister Dinesh Gunawardena and Defence Secretary Gotabhaya Rajapakse were also present. The national Vesak festival which was jointly organized by the Ministry of Buddha …

China to lend Sri Lanka $580m for development projects

China to lend Sri Lanka $580m for development projects

  ▶sinhala– සිංහල ▶english– China Development Bank Corporation will lend $580 million to Sri Lanka to help implement key infrastructure projects, a government document released on Wednesday showed. The loan will bring CDB’s total lending to Sri Lanka to more than $1.4 billion. China’s increasing …

Hype runs out as economy struggles

Hype runs out as economy struggles

     After crushing Tamil rebels four years ago Sri Lanka expected to become South Asia’s tiger economy, but exuberance has given way to mediocre growth and fears of more trouble ahead. The country was almost broke when troops defeated separatist Tamil Tigers in May …

State sector employees would suffer from consequences of the continuing drop in state income: D. E. W. Gunasekera

State sector employees would suffer from consequences of the continuing drop in state income: D. E. W. Gunasekera

Communist Party of Sri Lanka General Secretary and Senior Minister yesterday urged state sector trade unions to push for far reaching financial reforms or face the consequences. In fact, the CP Leader said the state sector employees would be the first to suffer from the …

Sri Lanka has to watch inflation, banks, taxes and draw more FDI: IMF

Sri Lanka has to watch inflation, banks, taxes and draw more FDI: IMF

   Sri Lanka has to watch inflation, bank credit, tax revenues, keep monetary policy tight and avoid guaranteeing bank forex borrowings and instead create an environment for foreign direct investments, the International Monetary Fund has said.  The executive board of the IMF in a review …

Sri Lanka cuts rates to boost credit

Sri Lanka cuts rates to boost credit

    Sri Lanka has cut its policy interest rate corridor by 50 basis points to 7.0 and 9.0 percent to boost credit, saying inflationary pressures were in check, amidst …

IMF warns Sri Lanka against interest rate cut

IMF warns Sri Lanka against interest rate cut

      The IMF warned Sri Lanka Thursday about the risk of rising inflation and urged the government not to cut lending rates. The International Monetary Fund chief in Colombo, Koshy Mathai, said he expected inflation to climb by 1-1.5 percentage points in the …