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June 3, 2023
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Sri Lanka
Sri Lanka rupee’s rally may falter as 16% slide seen on horizon
After topping global currency rankings this year, analysts are predicting tough times ahead for the Sri Lankan rupee as the government eases import restrictions and debt repayments loom
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Sri Lanka’s key inflation rate eases to 25.2% in May
Sri Lanka's key inflation rate eased to 25.2% in May from 35.3% in April, the statistics department said on Wednesday (May 31), reducing some stress on the crisis-hit economy
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ADB grants $350 million to cash-strapped Sri Lanka
The Asian Development Bank (ADB) approved a $350 million loan on Monday (29) for bankrupt Sri Lanka, buttressing an International Monetary Fund (IMF) bailout as the country battles its worst economic crisis.
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US$ 1b Indian Credit Facility extended till March 2024
The State Bank of India (SBI) has extended by 12 months, the tenure of the US$ 1 billion Credit Facility provided to the Government of Sri Lanka for procurement of essential items in March 2022
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Sri Lanka personal income tax shock dims economic activities
Sri Lanka’s personal income tax hikes have hit economic activity in the first quarter though currency stability helped businesses cut prices, Hemas Holdings, a top consumer goods group said
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Sri Lanka making good progress in debt restructuring talks, president says
Crisis-stricken Sri Lanka should be able to conclude newly launched debt restructuring talks by September, or November at the latest, its president said on Thursday (25), adding that the negotiations had made "remarkable" progress
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Sri Lanka’s CEB has proposed reducing tariff by 3% says PUCSL chief
ri Lanka’s state-run Ceylon Electricity Board (CEB) has proposed reducing tariffs by an average of 3%, in a new cost and tariff filing, but the proposed costs have fallen 27%, Chairman of the Public Utilities Commission, Janaka Ratnayake…
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CEB loses Rs 34bn in March 2023 quarter amid finance costs
Sri Lanka’s state-run Ceylon Electricity Board (CEB) has lost 34.3 billion rupees, up 4.2% from a year ago, despite a tariff hike, as finance costs went up steeply, interim accounts show
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IMF’s corruption-focused governance diagnostic report to be completed by September
The International Monetary Fund’s (IMF) corruption-busting governance diagnostic report is expected to be completed by September and the global lender will spell out measures to improve the island nation’s governance system, a top IMF…
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IMF official says Sri Lanka reforms critical, evaluating progress
The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday (15)
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