A bull run in Sri Lanka’s defaulted bonds may be nearing its end as investors turn skeptical over more gains with a successful debt revamp already priced in.

Sri Lanka’s government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.

Sri Lanka President Ranil Wickremesinghe in his capacity as Minister of Finance commenced presenting the Budget Speech 2024 at 12:00 PM today (November 13).

Sri Lanka is likely to raise taxes and curb spending in its annual budget to meet the International Monetary Fund’s conditions and maintain a $3 billion bailout, but elections next year might see the government delay some reforms.

Four members of the same family have been reported missing after a landslide buried a house in Gawaranghena, Balangoda on Sunday (November 12).

The People’s Republic of China officially handed over 26 RANOMOTO motorcycles and 100 LENOVO desktop computers to the Sri Lanka Police Department in a ceremony at the Presidential Secretariat on Friday (November 10).

Three persons including the Chairman of the Central Environment Authority (CEA), Supun Shashendra Pathirage, were arrested by Bribery Commission officials a short while ago for soliciting a bribe of Rs.10 million from a person.

The World Bank’s Board of Executive Directors today approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector.

The Executive Board has approved a proposal to be considered by the Board of Governors to conclude the 16th General Review of Quotas with a significant increase in quotas.