Sri Lanka’s economic stability is closely tied to its International Monetary Fund (IMF) program, with reviews conducted every six months to assess the country’s progress on key economic reforms and performance criteria. These reviews determine whether Sri Lanka can access the next tranche of funds from the IMF, critical for the country’s recovery. As Sri
Ceylon Energy, in collaboration with HJT China, proudly announces the successful completion of the Maho and Ampara 33kV power distribution lines. This achievement is a significant milestone within the Supporting Electricity Supply Reliability Improvement Project (SESRIP), a transformative initiative aimed at enhancing energy distribution across Sri Lanka. The SESRIP addresses the energy needs of some
The Cabinet of Ministers has approved the establishment of a Financial Stability Fund aimed at strengthening Sri Lanka’s bank resolution framework as part of the Central Bank of Sri Lanka’s (CBSL) financial crisis management program. The initiative will begin with an initial allocation of Rs. 1 billion from the Ministry of Finance, Economic Stabilisation, and
Sri Lanka’s cabinet of ministers has approved a cost-based pricing formula for the state-run National Water Supply and Drainage Board, according to Minister Bandula Gunawardana. Minister Gunawardana announced on Tuesday that the new pricing formula will be implemented starting next year. This pricing reform is part of the conditions tied to a $100 million budget