Category: Local News

The International Monetary Fund (IMF) bailout will help bring Sri Lanka’s depleted foreign exchange reserve to pre-crisis levels in four years, said the country’s central bank governor.

The Government of Japan has provided USD 1.6 million to UN Women in support of humanitarian assistance for women mostly affected by the socio-economic crisis in Sri Lanka.

A decision has been reached for the divestment of shares held by the state of several enterprises based on a cabinet decision reached on 13th March 2023, the State Owned Enterprises Restructuring Unit of the Finance Ministry announced.

Postal Voting for the 2023 Local Government Election in Sri Lanka has been further delayed.

Several private fertiliser companies have decided to reduce the price of a 50kg Urea fertiliser bag by Rs. 7,500, Minister of Agriculture Mahinda Amaraweera said.

The prices of imported milk powder will be reduced with effect from Monday (March 27), the Milk Powder Importers’ Association announced today (March 23).

State Minister Indika Anuruddha commended the efforts made by President Ranil Wickremesinghe during a media briefing convened by the Sri Lanka Podujana Peramuna (SLPP).

The Water Supply Professionals Trade Union Alliance (WSPTUA) has decided to engage in 8-hour trade union action by refraining from all duties at offices and workstations from 9:00 AM today (March 23) because they have not received solutions to their demands.

Sri Lanka will kick off the next round of talks with creditors in the third week of April, President Ranil Wickremesinghe said on Wednesday, adding that the debt-stricken nation has started to receive funds from the International Monetary Fund.

The Sri Lankan Rupee (LKR) has further appreciated against the US dollar (USD) today (March 22), according to the Central Bank of Sri Lanka.

Sri Lankan President Ranil Wickremesinghe said today (March 22) the salaries and pensions of public servants will be revised in the future, in line with the inflation rates.

Sri Lankan President Ranil Wickremesinghe said the International Monetary Fund (IMF) bailout package has unlocked a new path to create a better future for the youth and uplift the country.

The main Opposition, Samagi Jana Balavegaya (SJB), and the Janatha Vimukthi Peramuna (JVP) yesterday (March 21) moved Supreme Court against Treasury Secretary Mahinda Siriwardana over his failure to provide funds required by the Election Commission to conduct the Local Government polls, ignoring an interim order issued by the apex court, on March 03, 2023.

Sri Lanka’s bailout by the International Monetary Fund will help the bankrupt nation lower its borrowing costs, thanks in part to a change in how the cash can be used, central bank Governor Nandalal Weerasinghe said.

Sri Lanka President Ranil Wickremesinghe emphasised that Sri Lanka is no longer considered as a bankrupt country by the world.

Sri Lanka has a difficult road ahead irrespective of how much funding it receives from multilateral and global financial agencies, a senior economist at Moody’s Analytics told Reuters on Tuesday.