Sri Lanka’s gross foreign exchange inflows exceeded imports by $757 million in August 2024, according to data released by the Central Bank of Sri Lanka. The total inflows for August stood at $2.411 billion, while imports were recorded at $1.654 billion. These inflows included $1.224 billion from merchandise exports, the highest since August 2022, $577.5
Sri Lanka’s newly elected President Anura Dissanayake’s economic team held its first meeting with an International Monetary Fund (IMF) delegation. The discussions, which took place at the Presidential Secretariat, focused on reviewing the current IMF program and exploring future collaboration. The IMF delegation, which included Peter Breuer (Senior Mission Chief), Sarwat Jahan (Resident Representative), and
A delegation from the International Monetary Fund (IMF) is set to visit Sri Lanka this week to meet with President Anura Kumara Dissanayake, a senior official announced. The team’s visit is described as a courtesy call, according to Anil Jayantha, head of the Economic Council of the President’s National People’s Power (NPP) party. In his
The World Bank Group has reaffirmed its commitment to support Sri Lanka in a letter addressed to the newly elected President, Anura Dissanayake. The letter, signed by senior regional officers overseeing the country, emphasized the institution’s readiness to assist the new administration in its efforts to drive economic recovery. The World Bank has been providing
The Ceylon Chamber of Commerce (CCC) has congratulated newly elected President Anura Kumara Dissanayake and pledged its commitment to collaborate with stakeholders on growth strategies. In a statement, the CCC highlighted 10 economic priorities for President Dissanayake to focus on in the first six months of his term: The CCC reaffirmed its support for transforming
Sri Lanka’s economy will remain stable under the National People’s Power (NPP) administration, according to party leader Anura Kumara Dissanayake. Addressing the business community, Dissanayake emphasized that while economic changes will be made, they will be carefully assessed to prevent any destabilization. Dissanayake assured that the NPP’s approach is not driven by populist politics, citing
In a special session held on Tuesday, Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), provided a comprehensive briefing to Members of Parliament on the measures taken to stabilise the country’s economy. This session, chaired by Speaker Mahinda Yapa Abeywardena, was conducted in accordance with Section 80 (2) (a) of the
Sri Lanka’s budget deficit saw a significant reduction of 52% in the first half of 2024, dropping to 515.7 billion rupees. During the same period, government revenues surged by 42% to 1,860.6 billion rupees, driven largely by a 43% increase in tax revenues, totaling 1,709.3 billion rupees, according to interim budget data. The budget’s current
Sri Lanka’s balance of payments (BOP) remains in surplus in 2024, but it trails slightly behind the figures from 2023, according to official data. By June 2024, the country recorded a BOP surplus of $1.761 billion, compared to $1.957 billion in the same period the previous year. The surplus, reflecting an improvement in net international
Sri Lanka’s central bank has absorbed Rs. 546 billion of domestic money out of the Rs. 578.5 billion created from foreign exchange purchases in the six months leading up to June 2024, according to official data. The central bank generated Rs. 538.1 billion from forex purchases and an additional Rs. 40.4 billion net from buying