Domestic debt re-structure on the cards under external creditors pressure
Sri Lanka is looking at options to re-structure domestic debt, or local law local currency debt (LLLC), without harming the banking sector and announce them the International Monetary Fund said in a report.
Government compels to introduce property tax and a gift and inheritance tax soon
Sri Lanka is compelled to introduce a nation-wide property tax and a gift and inheritance tax with minimal exemptions, according to a deal reached with the International Monetary Fund and the government.
Sri Lanka transacts Rs18.6 trillion through Lanka Pay
Sri Lanka’s LankaPay, has processed transactions worth 18.671 trillion rupees of transactions in 2021/2022, the payment network said.
UN says Haiti gang violence has killed hundreds in 2023
The UN on Tuesday expressed grave concern over "extreme violence" in Haiti, which it said was continuing to spiral out of control.
Billionaire media tycoon Murdoch finds love after fourth divorce
A92-year-old billionaire media mogul Rupert Murdoch has announced engagement to his new girlfriend Ann Lesley Smith, less than a year after his divorce from his fourth wife, Jerry Hall, was finalised.
IMFs US$2.9 billion EFF unlocks multilateral financing of US$ 7 billion for Sri Lanka
The unlocking of the International Monetary Fund’s US$2.9 billion (IMF) Extended Fund Facility (EFF) for Sri Lanka is now being granted with the approval of the executive board leading to the opening access to multilateral agencies assistance of around US$ 7 billion, IMF and finance ministry sources confirmed.
Putin and Xi Celebrate Ties Unbroken by Russia’s War in Ukraine
Xi Jinping's 3 day visit to Russia and his meetings with Mr. Putin. China presents the trip as an effort to start peace talks between Russia and Ukraine based on its proposals.
Cabinet approves divestment of shares in SLT & Lanka Hospital
Treasury Secretary Mahinda Siriwardena has informed the board of directors of the Lanka Hospitals Corporation PLC and Sri Lanka Telecom PLC that the Cabinet have granted approval in principle for the divestment of major shareholding of those institutions.
President thanks IMF after EFF approved
President Ranil Wickremesinghe thanked the International Monetary Fund a short while ago after the Extended Fund Facility was approved by the IMF Board earlier today.
This is the statement issued by the IMF
The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).
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IMF Executive Board Approves US$3 Billion Under the New Extended Fund Facility (EFF) Arrangement for Sri Lanka
Washington, DC: The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).
Local fuel prices expected to drop sharply as global oil prices plunge
Sri Lankans could receive a welcoming surprise at the pump in a matter of days or weeks as the global oil hit a 15-month low last week on concerns about a banking sector crisis in the United States that may spill over into other parts of the world.
IMF Executive Board considers Sri Lanka’s loan facility for approval today
The Executive Board of the International Monetary Fund (IMF) will consider Sri Lanka’s bailout package for approval today, exactly 200 days after reaching a staff level agreement.
Construction sector falls to fresh lows in 4Q22
The once brisk construction sector fell to new lows in the final three months of last year, extending the contraction in the sector to its sixth straight quarter reflecting the extent of its struggle.