Economy

COLOMBO - Sri Lanka's president vowed "immediate steps" to amend anti-terror legislation to retain a lucrative trade status with the European Union, his office said Tuesday (5). The EU had warned Sri Lanka that its generalized system of…
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COLOMBO – Sri Lanka’s budget deficit has hit  Rs 1,016 billion rupees by July 2021, with Rs 549 billion printed,  triggering a  US$ 2.7 billion balance of payments deficit, official data showed amid cascading policy errors involving…
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COLOMBO - Sri Lanka halted a 96,000-tonne shipment of fertilizer from China on Wednesday (29) citing quality issues, undermining the island's plans for the world's first fully organic farming sector. Agriculture minister Mahindananda…
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COLOMBO – Sri Lanka’s government debt had climbed to 104% of gross domestic product (GDP) by June 2021 from 101% in December 2020, based on the latest national income estimates and debt data. Sri Lanka’s nominal GDP for the 12 months…
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COLOMBO – Sri Lanka’s preferential trade access to the European Union (EU), which is the biggest market for its US$ 5 billion apparel industry, is in doubt with an investigation into the island country’s human rights and governance concerns…
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By Clarisa Diaz In pursuit of becoming the world’s first 100% organic food producer, Sri Lanka now finds itself in an economic crisis exacerbated by the pandemic,  inflation, and hoarding of essential food items. In April, the country…
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COLOMBO - Sri Lanka’s new central bank governor said he will soon unveil a roadmap to ensure economic and financial stability as the nation faces depleted foreign exchange reserves and looming debt payments. “The central bank's first and…
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By Karan Deep Singh NEW DELHI — The forecast was mathematically based, government-approved and deeply, tragically wrong. In September 2020, eight months before a deadly COVID-19 second wave struck India, government-appointed scientists…
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COLOMBO – Sri Lanka stocks plunged 3.70% on Monday (13) as import restrictions and an increasing difference between dollar buying and selling weighed on the sentiment, amid foreigners also exiting from the island nation’s risky assets.…
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By R. Ramakumar An influential section of Sri Lankan agricultural economists and scientists has deplored the recent course change in the country’s agricultural policy made by the Gotabaya Rajapaksa government. The decision by the…
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