Economics

Sri Lanka’s CPI Up 2.4% in July; 22-Month Inflation Rises 2.8%

  • August 1, 2024

Sri Lanka’s consumer prices in the capital Colombo increased by 2.4% in the 12 months to July 2024. However, the central bank’s deflationary policy, which began impacting the balance of payments in September 2022, has only resulted in a 2.8% rise over the past 22 months. In July, the Colombo Consumer Price Index (CPI) fell

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Economics

Sri Lanka Bondholders Agree to 28% Haircut with GDP-Linked Gains

  • July 4, 2024

Sri Lanka and its sovereign bondholders have come to an agreement to exchange $14.43 billion in defaulted bonds and overdue interest for new instruments tied to future GDP growth, governance, and standard fixed interest bonds. Bondholders have consented to an 11% haircut on $1.889 billion of overdue interest, as opposed to an earlier proposal, according

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