Economy SL

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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CIPE-COSMI Team Up to Boost Participatory Governance in Large-Scale Infrastructure Projects
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Published on DailyFT The Centre for International Private Enterprise (CIPE) and the Confederation of Micro, Small and Medium Industries (COSMI) have exchanged an agreement on an advocacy program that assists communities affected by large-scale infrastructure projects in Sri Lanka alongside...
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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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Sri Lanka CenBank May Raise Rates as Inflation Pressure Builds
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Published on Reuters The Central Bank of Sri Lanka (CBSL) is likely to raise interest rates at its first policy announcement in 2022 to tackle growing price pressures, manage external challenges and reduce pressure on the rupee, economists and analysts...
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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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mood of the nation
50% Fall in Paddy Yield Points to Necessity to Import 1 mn Metric Tonnes of Rice
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Published on The Sunday Times A paddy shortage by the end of February is now inevitable and the Government will have to import 800,000 to one million metric tons of rice to avoid scarcity during the April Sinhala and Tamil...
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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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