Crisis-hit Sri Lanka hikes interest rates in bid to tame inflation
(AFP)- Sri Lanka’s central bank hiked interest rates Thursday in a bid to tame rampant inflation and discourage consumer spendingContinue Reading
Category: Business Briefing
Explainer-Sri Lanka on the edge as debt burden mounts
COLOMBO (Reuters) – Hit hard by the COVID-19 pandemic, Sri Lanka is facing its most serious financial crisis in years,Continue Reading
Central bank chief says Sri Lanka will meet all debt repayments while rebuilding Forex reserves as country suffers another ratings downgrade.
COLOMBO -Sri Lanka’s government will meet all 2022 debt repayments and work on a more comprehensive plan to address dwindlingContinue Reading
Sri Lanka Seeks Chinese Debt Restructuring Amid Crisis
COLOMBO, Sri Lanka (AP/Reuters) — The president of debt-ridden Sri Lanka on Sunday asked China for the restructuring of itsContinue Reading
Fitch downgrades Sri Lanka to “CC” as fears mount of a sovereign default on its $26 billion foreign debt.
(AFP)- International ratings agency Fitch downgraded cash-strapped Sri Lanka Saturday by one notch to “CC” due to mounting fears ofContinue Reading
Sri Lanka economy contracts 1.5% in third quarter
COLOMBO, Dec 15 (Reuters) – Sri Lanka’s economy shrank 1.5% in the third quarter from a year earlier due toContinue Reading
Sri Lanka shows off giant natural blue sapphire
COLOMBO — Sri Lankan authorities on Sunday put on show what they said was the world’s largest natural corundum blueContinue Reading
Sri Lanka Central Bank Governor says to review possible illegal money channels as remittance drops
COLOMBO -Sri Lanka’s top central bank official on Saturday said remittances have declined over the past six months, prompting authoritiesContinue Reading
Sri Lanka ends farm chemical ban as organic drive fails
(AFP)- Sri Lanka abandoned its quest to become the world’s first completely organic farming nation on Sunday, announcing it wouldContinue Reading
Sri Lanka sees budget deficit falling, but strain on economy remains
COLOMBO, Nov 12 (Reuters) – The Sri Lankan government will reduce the budget deficit to around 8.8% of gross domesticContinue Reading
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