debt

Dollar Drought Leaves Sri Lanka Groping in the Dark
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Published on Nikkei Asia  As Sri Lanka's dollar scarcity worsens, a fresh crop of unusual signs has surfaced about spreading shortages of basic goods. "Candles not available due to gas shortage" was one. It was placed at St. Anthony's church,...
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Confidence-boosting, Painful Economic Reform Package Pointed Out as SL’s Only Way Out
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Published on Daily Mirror Experts say such package may or may not need involvement of IMF, depending on political stamina of govt. Leading international debt restructuring expert says engaging IMF could be useful for SL as agency has political legitimacy...
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Explainer: Sri Lanka on the Edge as Debt Burden Mounts
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Published on Reuters Hit hard by the COVID-19 pandemic, Sri Lanka is facing its most serious financial crisis in years, raising doubts about its ability to pay its creditors. On Tuesday, the island nation will repay $500 million towards an...
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Colombo Port City: A new Dubai or a Chinese enclave?
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Published on BBC News "An economic game changer" is how officials describe Colombo Port City, a shiny metropolis soaring out of the water along the Sri Lankan capital's seafront. Next to Colombo's leafy business district, the huge expanse of sand...
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Sri Lanka’s Imports Increased in 2021 – Cabraal
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Published on Newswire Sri Lanka’s import expenses increased to US$ 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...
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Economist Calls for Debt Default to Avert Hardships on People
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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...
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Relief Package a Real Relief or an Economic Destabiliser?
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Published on The Morning The Cabinet last week approved a relief package worth Rs. 229 billion presented by the Minister of Finance. For Gayathri (35) (not her real name), it brought much joy going into the new year as she...
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Central Bank sells gold worth US$ 206mn to shore up reserves
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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....
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CB says Funds Allocated for Jan. 18 Bond Settlement
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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...
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Government’s New Year Relief: A blessing or curse in disguise?
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Published on Daily Mirror Prudence at the helm is the most important need of the country today - W. A Wijewardena Burden of funding will inequitably fall on the rest of the labour force - Deshal de Mel Need of...
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