Shirajiv Sirimane

“SL needs at least six months for debt restructuring”

Sri Lanka will need at least six months for debt restructuring and around three months for a successful outcome from the ongoing IMF talks, said Governor Central Bank Dr. Nandalal Weerasinghe...

Governor Threatens to resign

Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe stressed that if a Government is not appointed in two weeks he will step down from his position.Speaking at...
CBSL differs $300 mn payment to B’desh CB

The Central Bank of Sri Lanka ((CBSL) was able to differ the payment of USD 300 million due in May 2022 to the Central Bank of Bangladesh.Governor CBSL Dr. Nandalal...
Entrepreneurs ready to support Govt. with proposed taxes

Panelist: S.M.D. Suriyakumara, Chairman, Lanka Confectionery Manufacturers Association, N.K. Jayawardana, Chairman, All Ceylon Bakery Owners Association, Kamil Husain,...
Economic woes to ease in 3 months-Dr Weerasinghe

The current escalating inflation, overshooting interest rates, and depreciation of the rupee will stabilize in around three months, said Governor Central Bank Dr. Nandalal...

US$ 300 mn to help low-income groups - Governor

Sri Lanka will offer over USD 300 million out of the USD 600 million due from the World Bank to provide direct financial assistance for low- income families, Central Bank Governor (CBSL) Dr. Nandalal...
CEB promises to settle Renewable Energy sector dues soon

The Ceylon Electricity Board (CEB) has not discriminated nor cold shoulder the Renewable Energy sector and CEB treats them as a huge asset to the country, said Acting General Manager of CEB and...
Time to unite for political and economic stability – Finance Minister

Sri Lanka is facing the biggest economic crisis in its history and its time that people and politicians set aside their petty political differences and unite in one voice to overcome this situation...
CEB defaults Rs. 22 bn payments to renewable energy operators

The Ceylon Electricity Board (CEB) owes a whopping Rs. 22 billion payment to renewable energy operators that include small hydro, wind, solar and biomass power developers.Small hydro, wind, solar,...
“Ill timed, unconventional decisions, huge foreign credit led to current crisis”

Several ill timed and unconventional decisions and taking huge amounts of foreign credit by successive governments and also by this administration had led Sri Lanka to this current economic crisis,...
South Indian firms keen to set up JVs in SL

Several South Indian companies are keen to set up joint ventures in Sri Lanka to ‘value add’ and re-export to the region, said Sri Lanka’s Deputy High Commissioner in Chennai, Dr. D. Venkateshwaran....
Key short, long term strategies to overcome current economic crises - Ali Sabry

Sri Lanka will resort to three key short and long term strategies, to take the country away from the current economic crises, said Finance Minister Ali Sabry in a special interview from Washington DC...
Govt. to receive over US$ 2 bn in short-term funding

The ongoing negotiations with the International Monetary Fund (IMF), World Bank and other donor agencies and specially with India are very successful and the Government will soon receive short-term...
Tourism loses US$ 1bn revenue due to protests

Sri Lanka has lost over US Dollars one billion revenue to the tourism sector due to the ongoing protest at Galle Face and unrest in the country.In addition, the average tourism arrivals which were...
‘Closure of CSE move to allow investors grasp economic changes’

The closure of the Colombo Stock Exchange (CSE) for a period of five business days commencing from April 18 was temporary move and was initiated to fix several issues and allow investors to study...
‘Fast track Trincomalee harbour as base for hot and cold lay ups’

Sri Lanka should fast track the proposal to use Trincomalee harbour as a base for “hot and cold lay ups” (anchoring and maintaining of ships when not in use), said Executive Chairman Ceyline Group...
South Asia’s first Downtown Duty-Free Mall to open in August at Port City

Creating a historic economic landmark, South Asia’s first Downtown Duty-Free (DF) Mall, now being constructed at the Colombo Port City will be opened in August this year.The Downtown Duty-Free will...
“Political mismanagement main culprit for present economic crisis”

The present economic crisis in Sri Lanka was not created due to lack of exports, dip in tourist arrivals nor due to the COVID-19 pandemic but due to political mismanagement said investment...
BOI zone companies add USD 1,032 mn investment in 2021

Despite the pandemic and lockdowns the existing companies in BOI zones have increased their investments in Sri Lanka. The additional investments made by existing companies in 2020 were US$ 716...
“Govt. to provide 5-year visa for investors”

The government has decided to grant up to a five-year visa for investors and shareholders doing business in Sri Lanka (Investor Visas), Aviation and Development of Export Zones State Minister D. V....