IMG-LOGO
Home News

News - Economics (Macro)

IMG
Sri Lanka rupee ends inactive in forex market
Date : Jul - 27

Sri Lanka’s interbank forex markets are not allowed to deal above 200 to the US dollar and import customers are not allowed to be given dollars above 203 to the US dollar in curbs announced after money printing triggered forex shortages.

Read More
IMG
Sri Lanka reserve fall after bond payment will be temporary: Minister Cabraal
Date : Jul - 27

Sri Lanka had about 4.0 billion dollars of gross official reserves of which a billion US dollars flowed out for bond payment on July 26. However about 200 is expected to be recouped with swaps from the domestic holders of bonds who hold about 310 million US dollars, Minister Cabraal said. It is the practice for analysts to measure reserves in months of imports.

Read More
IMG
Govt. floats $ 110 m fresh SLDB issue
Date : Jul - 27

They offer fixed rates determined through competitive bidding. The issue opens today with 30 July as the date of settlement. The previous SLDB issue was in June aimed at raising $ 100 million. However, it drew bids amounting to 35% of the issue.

Read More
IMG
Sri Lanka exports up 9.4-pct in June 2021
Date : Jul - 20

Apparel grew 3.0 percent to 414 million US dollars, tea grew 7.8 percent to 123 million dollars, rubber products were up 38 percent to 123.9 million, coconut products were up 8.6 percent to 70.6 million US dollars.

Read More
IMG
Sri Lanka central bank keeps rates unchanged as inflation rise, BOP in deficit
Date : Jul - 08

Colombo Consumer Price Index, whose food component had been reduced from the 1980s rose to 5.2 percent in June while a nation-wide index has risen more. The central bank said official reserves were estimated at 4.0 billion US dollars in June or about 2.7 months of imports.

Read More
IMG
SriLankan Airlines lose Rs58bn to Feb 2021 amid Coronanvirus crisis
Date : Jul - 08

SriLankan, along with Qatar kept the country connected in the worst months of the Coronavirus crisis when airports shut down and airlines were grounded in many countries.

Read More
IMG
Sri Lanka rolls over US$36.24mn out of US$180mn in maturing dollar bonds
Date : Jun - 30

Sri Lanka has been printing money after cutting taxes in December 2019 and earning a downgrade. Sri Lanka also expanded the state worker cadre and had given them new allowances, pushing up the salary bill.

Read More
IMG
Sri Lanka inflation rises to 5.2-pct in June, food prices up 11.3-pct
Date : Jun - 30

The widely watched Colombo Consumer Price Index rose 1.5 percent to 142.4 points in June. The food sub-index which is has traded commodities rose 3.9 percent during the month after rising 2.2 percent in April.

Read More
IMG
Sri Lanka’s IMF SDR allocation, one hurdle passed, more remain
Date : Jun - 27

“Today the IMF Executive Board discussed a proposal for a new US$650 billion SDR allocation – the largest issuance in the IMF’s history aimed at helping its membership, especially the most vulnerable, overcome the COVID-19 crisis,” IMF spokesman Gerry Rice said after the June 25 meeting.

Read More
IMG
Sri Lanka CB did not approve luxury SUV imports for MPs: Governor
Date : Jun - 13

The elected ruling class also get tax free SUVs and state workers get tax slashed cars while ordinary people pay taxes of close to 300 percent for some vehicles in a modern day feudal-overload-to-serf style taxation system.

Read More