economy

Minister of Health Keheliya Rambukwella has appointed a 7-member experts’ committee in order to investigate into recent incidents of Anaphylaxis to drugs and their aftereffects in several healthcare institutions islandwide. The committee…

development banks, but said that any exploration of capital increases for the institutions can only be considered after implementing reforms aimed at expanding their role beyond poverty reduction to tackle global challenges such as climate…

Debt restructuring is making progress in countries outside of the G20 common framework, such as Sri Lanka, the International Monetary Fund (IMF) says. Addressing a press briefing on Thursday, the global lender’s Director of Strategic…

The bank accounts of six individuals, identified as members of the Board of Directors of ‘ONMAX DT’, a private firm believed to be a pyramid scheme, have been frozen, on orders of the Colombo Chief Magistrate’s Court. Accordingly, the…

President Ranil Wickremesinghe today (July 13) stressed the importance of financial discipline in nation-building and announced plans to promptly introduce formal measures to control public expenditure and generate new government revenue.…

The International Monetary Fund (IMF) says it has not discussed any plans for a digital services tax with the Sri Lankan authorities in the current program. In a statement, a spokesperson for the global lender further clarified that it…

challenged the US dollar’s role as the world’s primary reserve currency for global trade. Ramaphosa, while seconding Lula’s comment, said that the “issue of currency” would be discussed at the upcoming meeting of BRICS countries later…

Debt-ridden Sri Lanka may need to cut interest rates again to further boost growth in its economy, according to the head of its central bank. Dr. Nandalal Weerasinghe, governor of the Central Bank of Sri Lanka, told CNBC Friday that…

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 200 basis points (bps) to 11.00 per cent and…

regulatory or accounting forbearance. We may resolve and affirm the banks’ ratings if we think risks from funding and capital stresses have abated, at both the individual bank and the sector level, to the extent that we believe the…