ECONOMYNEXT – Sri Lanka’s domestic banks are in talks with the government seeking repayment of their sovereign bonds in rupees, sources said though there are concerns over the likely impact on the exchange rate from such a move. Out of…
The report from the Cabinet Sub-Committee appointed to investigate and recommend effective utilization of the Revenue Administration Management Information System (RAMIS) was recently presented to President Ranil Wickremesinghe at the President’s Office. Minister of Finance, Economic Stabilization, and National Policy,…
ECONOMYNEXT — Sri Lanka’s main opposition party the Samagi Jana Balawegaya (SJB) has expressed conditional support for the Public Finance Management Bill but not for he Economic Transformation Bill, SJB MP Harsha de Silva said. MP de Silva, who also…
ECONOMYNEXT – Speaker of Parliament Mahinda Yapa Abeywardana has discussed furthering cooperation between Sri Lanka and China while on a visit there this week. “Discussions focused on enhancing cooperation under the Belt and Road Initiative, particularly in advancing key projects…
ECONOMYNEXT – Sri Lanka’s apparel firms have warned against ending a special value added tax (SVAT)_scheme which avoided upfront payments and protected cashflows from delays in tax refunds by the government. The SVAT scheme is due to be abolished under…
ECONOMYNEXT – Fitch Ratings said it was confirming a national long-term A(lka) rating on Sri Lanka’s Sampath Bank Plc with a stable outlook, amid an improvement in operating environment, indicated by headline macroeconomic indicators. The bank had stage 3 loans…
ECONOMYNEXT — Sri Lanka’s Supreme Court has issued an interim order preventing Deshabandu Tennakoon from serving as Inspector General of Police (IGP), a media report said. The privately owned Ada Derana news network reported Wednesday July 24 morning that the…
ECONOMYNEXT – Sri Lanka credit from banks to the private borrowers expanded by 74 billion rupees in June to 7,512 billion rupees, after also expanding 61 billion rupees in May, central bank data showed. When a central bank which does…
ECONOMYNEXT – Sri Lanka’s central bank has cut the rate at which it is lending ‘printed money’ to banks by 25 basis points to 9.25 percent and the rate at which excess money is taken to 8.25 percent, in a…
ECONOMYNEXT – Sri Lanka’s parliament erupted in heated debate after government legislators raised a privilege issue against Committee on Public Finance Chair Harsha de Silva, who last week tabled report on a controversial visa deal with the IVS-GBS–VFS Global, consortium.…
