Debt Repayment Sri Lanka

November 2021 Reserves Lower than ‘Spider-Man’ Box Revenue

by |12 January 202218 January 2022|Verité in the News

Published on The Morning In November 2021 the foreign reserve position of Sri Lanka fell to a 12-year low of $ 1.6 billion, which Verité Research in a humorous social media post pointed out was marginally higher than the global...

Sri Lanka’s Imports Increased in 2021 – Cabraal

by |11 January 202218 January 2022|Verité in the News

Published on Newswire Sri Lanka’s import expenses increased to US$ 21.6 billion in 2021, Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal has announced. He pointed out that import expenses stood at US$ 16.1 billion in...

Economist Calls for Debt Default to Avert Hardships on People

by |10 January 202213 January 2022|Verité in the News

Published on Daily Mirror Senior economist Dr. Nishan de Mel says paying down debt won’t improve the country’s sovereign rating, instead it could trigger further downgrades His claim sparks immediate pushback, particularly from investor and financial market participants They warn...

Central Bank sells gold worth US$ 206mn to shore up reserves

by |09 January 202213 January 2022|Verité in the News

Published on The Sunday Times The Central Bank sold more than half of its gold reserve–54.1 percent or US$ 206.8mn worth– last month to shore up forex reserves that had dropped to around a month of imports in November 2021....

CB says Funds Allocated for Jan. 18 Bond Settlement

by |07 January 202218 January 2022|Verité in the News

Published on Daily Mirror It appears that CB is positive of wrapping up US $ 1.9bn Indian funding within this month CB is also hopeful of US $ 1bn worth of swap line from Qatar Leading economist advises govt. not...

Business Sentiment – Confidence at A Seven Month High

by |03 January 202206 January 2022|Verité in the News

Published on Ada Derena Biz At a recent economic forum organised by the Ceylon Chamber of Commerce, Nishan de Mel – the Executive Director of Verité Research – stated that Sri Lanka should pursue a debt restructure by drawing up...

Fitch Rating Revision: Debt default fears worsen but Lanka assures repayment

by |19 December 202106 January 2022|Verité in the News

Published on The Sunday Times Sri Lanka is running on empty and may be perilously close to defaulting on its foreign debt payments, the latest international sovereign ratings downgrade suggests. Citing an “increased probability of default’’, Fitch Ratings on Friday...

Govt. Urged to Initiate Groundwork for Debt Restructuring as Plan B

by |09 December 202110 December 2021|Verité in the News

Published on Daily Mirror Verite Research ED Dr. Nishan de Mel says SL will be in deeper crisis if govt. waits longer for Plan B Says govt.’s Plan A would push SL to sell or forfeit enormously valuable national assets...

Sri Lanka should draw up own program and negotiate with IMF: de Mel

by |07 December 202109 December 2021|Verité in the News

Published in EconomyNext ECONOMYNEXT – Sri Lanka should come up with a credible economic program of its own and go the International Monetary Fund instead of allowing the agency to device the plan, Nishan de Mel, head of Verete Research,...

Economist urges need for credible fiscal roadmap

by |17 March 202017 March 2020|Verité in the News

Taken from DailyMirror Sri Lanka would need to demonstrate the return to a credible fiscal path, a transition the country would have to make before the next debt repayment that is due mid this year by shoring up government revenue,...