Ratings agency warns hurdles to access external financing will persist Predicts Budget deficit will widen to 9.3%, well past Govt. estimate of 8.5% Debt-to-GDP ratio to rise to 94% in 2020, worsen next year Reserves dip to $ 6.5 b, debt commitments to average $ 4.3 b 2021-2025 Expects Govt. to return to intl. financial markets in 2021 Says funding beyond rollover of … [Read more...] about SL external challenges unlikely to abate after polls: Fitch
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Sri Lanka’s central bank gives Rs28bn loans from Rs120bn quasi-fiscal Coronavirus re-finance
Thursday June 25, 2020 06:59:48 ECONOMYNEXT – Sri Lanka’s central bank said it had approved 28 billion rupees of subsidized credit to be issued from commercial banks from a re-finance (printed money) which had been increased to 120 billion rupees from 50 billion rupees.The central bank introduced … [Read more...] about Sri Lanka’s central bank gives Rs28bn loans from Rs120bn quasi-fiscal Coronavirus re-finance
The best Test XI of players who retired in the 21st century
A Set small text size A Set the default text size A Set large text size Having followed international cricket since January 2008 (yes, that SCG Test), I’ve had the luxury of seeing many international cricketers who have done their country and Test cricket proud. … [Read more...] about The best Test XI of players who retired in the 21st century
International Finance Corporation to invest USD 175 million in Sri Lanka, Maldives
The International Finance Corporation (IFC), a sister organization to the World Bank, signed an agreement with John Keells Holdings (JKH) for a USD 175 million long-term investment to expand and refurbish hotels in Maldives and Sri Lanka.As it stands, the investment is IFC's largest in Maldives within the last decade, … [Read more...] about International Finance Corporation to invest USD 175 million in Sri Lanka, Maldives
How India can beat China at the content game
The Chinese are not just at our borders. They are all around us — in Pakistan through the Belt and Road project (BRI), in Sri Lanka with new ports, and in Africa through massive investments in many countries. China is a country resolute on dominating the world. One could assume that a country which is pitted to be the largest economy in the world in less than a decade would be … [Read more...] about How India can beat China at the content game
CEB looks to jump-start power sector
Plans to slash losses by Rs. 15 b in 2020, become profitable in four years Fast-tracks all delayed projects, faults former Govt. for failing to stick to generation plan Uma Oya, Mannar wind farm, Broadlands hydropower to come online in 2020 300MW LNG plant to begin construction, second to be tendered this year Denies CEB focused on coal, contends focus on … [Read more...] about CEB looks to jump-start power sector
Economic recovery mandates banks to be proactive
The construction industry can be the pivotal sector to stimulate economic activity across a wide spectrum – Pic by Shehan Gunasekara The recently-held meeting by President Gotabaya Rajapaksa with the top team of the Central Bank (CB) requires the entire country to thank him for its outcome. There was an overnight sea change by the CB which approved an economic stimulus of … [Read more...] about Economic recovery mandates banks to be proactive
Former Sri Lankan Finance Minister defends the Central Bank against the President's 'tantrum'
Samaraweera has defended the conduct of the Central Bank maintaining that the economic crisis Sri Lanka is facing is “fundamentally fiscal, not ...Source link … [Read more...] about Former Sri Lankan Finance Minister defends the Central Bank against the President's 'tantrum'
Sri Lanka stocks rally to a close, 0.72-pct higher
Tuesday June 23, 2020 15:48:57 ECONOMYNEXT- Sri Lanka stocks closed 0.72 percent higher on Tuesday following a rally after mid-day, brokers said. Colombo’s main All Share Price Index (ASPI) advanced 36.57 points to close at 5,083.07. The index followed an upward trajectory reaching an intra-day high … [Read more...] about Sri Lanka stocks rally to a close, 0.72-pct higher
Sri Lanka President expects businessmen to produce goods after controlling imports
Tuesday June 23, 2020 09:34:58 ECONOMYNEXT – Sri Lanka’s President Gotabaya Rajapaksa had asked businesses to manufacture products including brooms and drugs after controlling imports and giving subsidized credit, his office said. Imports in many sectors considered non-essential had been controlled, … [Read more...] about Sri Lanka President expects businessmen to produce goods after controlling imports
