The decision came after Sri Lanka's Governor said price gains should ease to single-digit levels by the end of 2023. Read more at straitstimes.com.
COLOMBO – Sri Lanka kept its benchmark interest rate unchanged for a fourth straight meeting as Asia’s fastest inflation showed signs of cooling while the bankrupt economy seeks to turn a cornerThe Central Bank of Sri Lanka held the standing lending facility rate at 15.5 per cent on Wednesday, a move predicted by all five economists in a Bloomberg survey.
What will move the needle for the island nation in recession is the US$2.9 billion International Monetary Fund programme that has been delayed. The IMF bailout will unlock more financing and should set the nation into a more sustainable recovery path.
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China offers Sri Lanka debt moratorium, IMF help still in doubtNEW DELH/COLOMBO :The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country's efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.India wrote to the IMF earlier this month, sayi
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China's EXIM bank offers Sri Lanka debt extensionSri Lanka owed Chinese lenders US$7.4 billion, or nearly a fifth of its public external debt, by the end of last year. Read more at straitstimes.com.
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China's EXIM bank offers Sri Lanka debt extension - letterNEW DELH/COLOMBO : The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country's efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters.India wrote to the IMF earlier this month,
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Sri Lanka hopeful of completing debt restructuring in six months: Central bank chiefSri Lanka is racing to secure a $3.8 billion bailout from the IMF. Read more at straitstimes.com.
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Sri Lanka's national consumer price inflation eases to 59.2% in DecCOLOMBO :Sri Lanka's National Consumer Price Index (NCPI) eased year-on-year to 59.2 per cent in December, after a 65 per cent rise in November, the statistics department said on Monday.Food prices were up 59.3 per cent in December from a year ago, while non-food inflation was 59 per cent higher, the Departme
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Sri Lanka holds rates steady to rein in inflation, as expectedCOLOMBO : Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is critical to reining in inflationary pressures. The Central Bank of Sri Lanka had increased rates by a massive 950 basis points between
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