Economics

Sri Lanka Secures $100 Million from ADB for Power Reforms

  • July 2, 2024

Sri Lanka’s cabinet of ministers has approved borrowing 100 million US dollars from the Asian Development Bank, according to a statement from the state information office. This loan is the first installment of a 300 million dollar program. Sri Lanka recently passed an Electricity Law, which is tied to budget support loans. These budget support

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Finance

Sri Lanka Achieves Milestone in Debt Restructuring with IMF Support

  • June 28, 2024

The International Monetary Fund (IMF) announced that it welcomes Sri Lanka’s finalization of debt restructuring agreements with major creditor nations, marking a significant step towards restoring debt sustainability. According to IMF’s Senior Mission Chief in Sri Lanka, Peter Breuer, the agreements reached with China and other creditor nations to restructure approximately $10 billion in bilateral

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