Asserting that the International Monetary Fund (IMF) remains a steadfast partner in supporting Sri Lanka and its people, Director for Asia Pacific Department Krishna Srinivasan said today that the IMF team will continue its close engagement with Sri Lanka’s economic team to set a date for the third review of the IMF-supported programme. Issuing a […]
Read MoreKazakhstan has successfully issued a $1.5 billion 10-year bond with a coupon rate of 4.714%, marking its first return to the U.S. dollar-denominated eurobond market since 2015, the Finance Ministry’s press service reported on Oct. 4. The transaction followed a one-day virtual roadshow, accessible only to countries with high investment ratings, attracting over 100 investors […]
Read MoreRecent natural disasters triggered by incessant rains have caused damages worth Rs 25 billion to road infrastructure. It is estimated that around Rs 3 billion will be required for the temporary restoration of damaged roads and bridges, while full reconstruction could cost between Rs 20-25 billion. At a meeting of the Infrastructure Development Committee, House […]
Read MoreDeputy Minister of Finance (Wamenkeu) II, Thomas Djiwandono, has said that Indonesia has managed to integrate the sharia economy and Islamic public finance principles with mainstream or conventional economic policies. “Indonesia has made substantial progress in incorporating Islamic public finance principles into mainstream economy policies,” Djiwandono highlighted at a video conference broadcast here on Thursday. […]
Read MoreParo-Bhutan has taken a major step toward expanding its renewable energy portfolio with the signing of a Memorandum of Understanding (MoU) at the Bhutan Innovation Forum between Druk Holding and Investments Ltd. (DHI) and the Reliance Group. The agreement sets the stage for the development of 500 megawatts (MW) of solar power and 770 MW […]
Read MoreThe long-awaited tripartite power trade agreement was signed on Thursday in Kathmandu, paving the way for Nepal to export hydroelectricity to Bangladesh. Under the agreement, Nepal will export 40 megawatts of power to Bangladesh. Kulman Ghising, Executive Director of Nepal Electricity Authority (NEA), Mohammad Rezaul Karim, Chairperson of Bangladesh Power Development Board, and Renu Narang, […]
Read MoreCash-strapped Sri Lanka’s economy recorded falling consumer prices for the first time in 29 years, official data showed Monday, with the September inflation figure dipping to negative 0.5 percent. Census and Statistics Department data showed price drops in both food and non-food goods contributing to deflation in September, compared to inflation of 0.5 percent in […]
Read MoreA high-level delegation from the International Monetary Fund (IMF) that arrived in Sri Lanka today held discussions with the economic team of the new government where they reviewed the IMF programme thus far, the President’s Media Division (PMD) said. The PMD said the IMF delegation arrived in Sri Lanka to engage with the newly formed […]
Read MoreMain opposition MDP’s leader Abdulla Shahid has called on the government to consider concerns raised by various parties on the Regulation on Foreign Currency and the Regulation on Money Changing Business. On Tuesday, the MMA published two new regulations aimed at increasing the flow of US Dollars in the Maldives. Subsequently, Maldives Association of Tourism […]
Read MoreChina President Xi Jinping said on Monday that the Chinese people will score more remarkable achievements and make greater contributions to the noble cause of peace and development of humanity. Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks at a […]
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