The popular television show “Doramadalawa,” known for its insightful discussions, will feature a panel of experts tonight at 10 pm on Independent Television Network. The topic of discussion will revolve around “The Economic Reality Revealed by the Central Bank Report for 2023.” The panel includes esteemed individuals such as Prof. Priyanga Dunusinghe and Dr. M.
According to the Central Bank of Sri Lanka (CBSL), Sri Lanka’s official reserve assets saw a notable increase of 9.6% in April 2024, reaching USD 5.43 billion compared to USD 4.96 billion in March 2024. However, this total includes proceeds from a swap with the People’s Bank of China (PBoC) amounting to around USD 1.4
In March 2024, the merchandise trade account deficit in Sri Lanka narrowed to US dollars 369 million compared to US dollars 412 million in March 2023, attributed to a sharper increase in exports than imports. However, this improvement was offset by a widening deficit from February 2024, which stood at US dollars 319 million. The
The Committee on Public Finance (COPF) convened today for a crucial discussion centered on Parate Execution (PE) and its implications for Sri Lanka’s economic recovery and the welfare of Micro, Small, and Medium Enterprises (MSMEs). COPF Chairman Dr. Harsha de Silva highlighted a key outcome of the meeting: the temporary suspension of PE until December
State Tourism Minister Diana Gamage of Sri Lanka has highlighted the progress made in night-time economic activities but stressed the need for further steps to attract tourists to the island nation. Since assuming office, Gamage has actively promoted night-time tourism initiatives to diversify options for foreign visitors. Addressing reporters in Colombo, Gamage expressed satisfaction with
State Tourism Minister Diana Gamage of Sri Lanka has emphasized the need for regulating “illegal prostitution” disguised as spa or wellness centers to address health concerns, including the spread of AIDS, especially among the country’s youth. According to the National STD and AIDS Control Programme, there was a 14 percent increase in new HIV positive
There are positive signs for the Sri Lankan economy as the fourth quarter of 2023 (4Q2023) witnessed a shift towards growth. A report by CT CLSA SECURITIES (PVT) LTD revealed a Gross Domestic Product (GDP) increase of 4.5% YoY (Year-over-Year) in 4Q2023, a significant improvement compared to the sharp contraction of -12.4% experienced in the
Standard Chartered Bank’s Global Research team painted a cautiously optimistic picture of Sri Lanka’s economic future during their 2024 H1 Global Research Briefing held in Colombo. Following the IMF deal, the team noted a significant economic recovery in 2023, a trend expected to continue in 2024 with a focus on commercial debt restructuring. However, they
The central bank of Sri Lanka has highlighted the country’s ongoing recovery from economic challenges amidst global risks, emphasizing the crucial role of the International Monetary Fund (IMF) program in maintaining confidence and stability. According to the Monetary Policy Report released in February, the continuation of the IMF Extended Fund Facility (EFF) arrangement and the
Recent findings from the Institute for Health Policy (IHP) reveal a concerning trend in Sri Lanka’s consumer confidence, plummeting to its lowest levels since initiating the International Monetary Fund (IMF) program. According to data released on Friday, February 16, the Index of Consumer Sentiment (ICS) has dropped by 5 points to a mere 16 points