Sri Lanka Central Bank further reduces policy rates

The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points (bps) to 8.50 per cent and 9.50 per cent, respectively. The Board said it arrived at this decision […]

Special discussion on IMF bailout programme today

A discussion between the visiting team of officials from the International Monetary Fund (IMF) and representatives from the government and opposition regarding the IMF bailout programme is scheduled to be held today (11) at the Presidential Secretariat in Colombo. Ministers of State for Finance Shehan Semasinghe, Ranjith Siyambalapitiya, Chief of Staff to the President Sagala […]

President reiterates govt’s commitment to sustaining momentum and advancing economic agenda

During the meeting between President Ranil Wickremesinghe and the IMF team at the Finance Ministry today (07), the Senior Mission Chief for Sri Lanka Peter Breuer emphasized that the IMF program is exhibiting promising signs of efficacy, translating into tangible outcomes. He commended the authorities for their unwavering commitment to the program’s implementation, noting that […]

IMF second review of Sri Lanka’s bailout package begins today

The International Monetary Fund (IMF) will commence its second review of the Extended Fund Facility (EFF) program for Sri Lanka today (March 07) with an opening meeting scheduled with President Ranil Wickremesinghe. Taking to his X handle (formerly Twitter), Finance State Minister Shehan Semasinghe said this marks a crucial milestone in the ongoing efforts by […]

IMF team to visit Sri Lanka for second EFF review

A team from the International Monetary Fund (IMF) is to arrive in Sri Lanka for the second review of the Extended Fund Facility (EFF) programme which is to begin on 07 March, according to State Minister of Finance Shehan Semasinghe. The state minister said he believes the second review for the third disbursement under the […]

The Opening of the Clubhouse of Vista Residencies – Malabe

Foresight Residencies Pvt Limited holds an Open Day for Prospective Clients of Vista Residencies. [Malabe] – Foresight Residencies Pvt Limited conducted an Open Day event at Vista Residencies, located at KCM Drive, Welivita Road, off Millennium Drive, Malabe on 17 February from 9am-5pm; aimed at creating awareness about the opening of the new clubhouse and […]

Bitcoin ETF: Cryptocurrency swings as watchdog X account ‘compromised’

Bitcoin jumped briefly on Tuesday after a post on the US markets regulator’s X account (formerly Twitter) said it had approved new so-called exchange-traded funds (ETFs) in the cryptocurrency. The Securities and Exchange Commission (SEC) later deleted the post and said its account had been “compromised”. The social media platform has said the compromised account […]

Sri Lanka’s official reserve assets up by 23.2% in Dec. 2023

The Central Bank of Sri Lanka (CBSL) has reported an increase of 23.2% in Sri Lanka’s official reserve assets from September 2023 to October 2023. Accordingly, Sri Lanka’s official reserve assets increased to USD 4.4 billion in December 2023 from USD 3.57 billion in November 2023. “This includes a swap facility from People’s Bank of […]

Govt targeting increase in state revenue to 15% of GDP by 2026

State Minister for Finance, Shehan Semasinghe, emphasized that the sustained single-digit inflation has significantly contributed to fostering business confidence within the country. During a press conference at the Presidential Media Centre (PMC) themed ‘Collective Path to a Stable Country,’ held today (01) the State Minister disclosed that the state revenue accounted for 11.2% of the […]