ADB Rolls Out $4B Aid, Sri Lanka Among Key Countries
Sri Lanka has emerged as one of the countries seeking urgent financial support from the Asian Development Bank (ADB) as the institution moves swiftly to deploy a massive $4 billion assistance package to help economies withstand the far-reaching impacts of the ongoing Middle East conflict. The ADB confirmed that Sri Lanka is among 15 countries across Asia and the Pacific …
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Speaker Endorses the Inland Revenue (Amendment) Bill
The Speaker, Dr. Jagath Wickramaratne, yesterday (Jun. 03) endorsed the certificate on the Inland Revenue (Amendment) Bill. The Inland Revenue (Amendment) Act, No. 11 of 2026, which amends the Inland Revenue Act, No. 24 of 2017, was passed on 19 May 2026. The Act modernizes tax administration procedures, clarifies existing provisions, enhances tax compliance and enforcement, improves the accuracy of …
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Shielding the Harvest: Why Sri Lanka Must Embrace Price Index Insurance
Roshani Rabukwella, Senior Researcher, Hector Kobbekaduwa Agrarian Research and Training Institute In the fertile lands of Sri Lanka, the heartbeat of the nation is found in its fields. Yet, for the millions of farmers who sustain us, the primary threat to their livelihood isn’t just a failing monsoon or a pest outbreak it is the volatile, often predatory, fluctuation …
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IMF Executive Board Completes the Combined Fifth and Sixth Reviews Under the Extended Fund Facility for Sri Lanka
The IMF Executive Board completed the combined Fifth and Sixth Reviews of the Extended Fund Facility for Sri Lanka, providing the country with immediate access to SDR508 million (about US$695 million) to support economic policies and reforms. Performance under the program was generally strong. The prior actions on restoring fuel and electricity cost-recovery pricing were met. The continuous performance criteria …
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IMF Executive Board Completes the Combined Fifth and Sixth Reviews Under the Extended Fund Facility for Sri Lanka
Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the combined Fifth and Sixth Reviews of Sri Lanka’s economic reform program supported by the 48-month Extended Fund Facility (EFF) arrangement. Completion of the combined reviews provides SDR508 million (about US$695 million), bringing the total purchases under the arrangement to SDR1.778 billion (about US$2.4 billion).1 The EFF arrangement for Sri …
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Sri Lanka monetary stance appropriate, 3% growth target within reach, IMF says
COLOMBO, May 28 (Reuters) – Sri Lanka’s monetary stance is broadly appropriate, and the country still has strong potential to reach the International Monetary Fund’s 3% growth target, the head of the IMF’s Sri Lanka mission said on Thursday. He was speaking two days after Sri Lanka’s central bank raised its benchmark policy rate by an unexpectedly large 100 basis …
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Sri Lanka rupee to recover from plunge as oil to ease, BMI says
The Sri Lankan rupee is set to recover from its slide by the end of this year as oil prices are set to decline and as the central bank raises interest rates, according to BMI. A renewed balance-of-payment crisis is unlikely, which limits the risk of a sharp depreciation in the currency, said Carolyn Pang, Singapore-based country risk analyst at …
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Sri Lankan Rupee Rallies Most in Three Years, Leads Asia FX – Bloomberg
The Sri Lankan rupee surged against the dollar, snapping a nine-day losing streak to become Asia’s best-performing currency on Friday. The rupee strengthened as much as 2.7%, its biggest gain since March 2023, reversing losses from Thursday when it slid to a three-year . Friday’s strengthening of the rupee may have been due to some market players deciding to sell …
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Supreme Court Determination on the “Financial Transactions Reporting (Amendment)” Bill
In terms of Article 121(1) of the Constitution, the Speaker also informed Parliament that he had received the determination of the Supreme Court in respect of the Bill titled “Financial Transactions Reporting (Amendment)” which was challenged in the Supreme Court under Article 121 (1) of the Constitution. The Supreme Court has determined that the Bill could be passed by the …
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CBSL calms market nerves amid exchange rate volatility
The Central Bank of Sri Lanka (CBSL) expects nearly $ 1 billion in inflows from multilateral agencies to provide additional bandwidth to stabilise the exchange rate, as the rupee comes under pressure from higher oil prices, rising imports, and uncertainty linked to the Middle East conflict. CBSL Governor Dr. Nandalal Weerasinghe yesterday said Sri Lanka expects around $ 700 million …
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