Sri Lanka is set to relax a ban on some vehicle imports in a sign the country is returning to normal after a severe economic crisis that toppled a president. From 1 February, imports of buses, trucks and utility vehicles will be allowed to resume, while restrictions on other vehicles are expected to be gradually […]
Read MoreMMBL-Money Transfer was responsible for bringing in a record US $ 350.8 million in foreign exchange into Sri Lanka in 2024. This represents 5 percent of the total worker remittances that came into the country last year. This also accounts for 77 percent of the overall Western Union remittances to the country. MMBL-Money Transfer is […]
Read MoreSri Lanka’s consumer prices fell by 4% in January, the highest deflation rate since July 1960, official data showed Friday, as the South Asian nation emerges from its worst economic meltdown. January was the fifth consecutive month of deflation, according to the Colombo Consumer Price Index. Inflation hit a record 69.8% in September 2022 at […]
Read MoreIn line with widespread expectations, the Central Bank kept its Overnight Policy Rate (OPR) — its new key policy rate — at 8.00 percent at its first policy meeting of the year. This decision was made with confidence that inflation will return to the medium-term target of 5 percent by the third quarter of this […]
Read MoreUK Minister for the Indo-Pacific set to meet with new Sri Lankan government minsters as part of the first official visit of new UK government. Minister will set out plans to strengthen UK-Sri Lanka partnership – from inclusive economic growth, anti-corruption, human rights to national reconciliation. The Minister will welcome new export initiatives set to […]
Read MoreUrban landscapes in Sri Lanka are no strangers to climate induced disasters. The country, being a tropical island in the Indian Ocean, has been identified among the top ten nations at risk of extreme weather events by the Global Climate Risk Index. The urban dwelling setups in the island nation are increasingly vulnerable to disasters […]
Read MoreAmidst several contradictory statements coming from the NPP government ministers over the ongoing rice shortage in the country, it has come to light that the government finds itself in a quandary since it has no accurate data on last year’s paddy production. As conflicting reports are put forward by the agricultural authorities, the government is […]
Read MoreSri Lanka could see the end to the current stretch of deflation in the second quarter before reaching the target level of 5.0 percent in the third, supported mainly by the accommodative monetary policy stance, which the Central Bank has been pursuing from the middle of 2023, pivoting from the bone-crushingly tight policy that decimated […]
Read MoreSri Lanka possesses a strong foundation for a digital economy, with 75 percent of the necessary skills already in place, according to Chief Advisor to the President on Digital Economy Dr. Hans Wijesuriya. However, to fully capitalise on this potential, the country must bridge the remaining gap and enhance its digital competitiveness. Currently, Sri Lanka’s […]
Read MoreSri Lanka’s consumer price inflation dropped to minus 2% year-on-year in December after easing to minus 1.7% in November, official data showed on Tuesday, as the country posted a strong rebound from its worst financial crisis in decades. The National Consumer Price Index captures broad retail price inflation and is released with a lag of […]
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