foreign debt

Confidence-boosting, Painful Economic Reform Package Pointed Out as SL’s Only Way Out

by |21 January 202224 January 2022|Verité in the News

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...

Explainer: Sri Lanka on the Edge as Debt Burden Mounts

by |17 January 202221 January 2022|Verité in the News

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...

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...

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...

Verité Research hosts Pre-budget Forum, offers solutions for USD Liquidity Crisis and Proposals for Budget 2022

by |15 October 202110 January 2022|Press Release

Verité Research hosted the online discussion Steering out of the Debt Crisis: Recipe for Budget 2022 on the 14th of October 2021. The event was anchored around addressing Sri Lanka’s debt and USD liquidity crisis, and featured presentations by Executive...

Sri Lanka Declares Economic Emergency – Nishan de Mel on Al Jazeera Inside Story

by |04 September 202113 September 2021|Interviews & Articles

Executive Director Nishan de Mel appears on Al Jazeera's Inside Story segment alongside State Minister Ajith Nivaard Cabraal and MP Harsha de Silva to discuss the sudden depreciation of the Sri Lankan rupee and the recent forex crisis.

Overcoming Sri Lanka’s Economic Woes – Nishan de Mel on Face the Nation

by |14 June 202104 August 2021|Interviews & Articles

Nishan de Mel, Executive director of Verité Research appears on Face the Nation by News 1st to discuss Sri Lanka's struggles with foreign debt and overcoming the country's economic woes.

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