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Sri Lanka to hit smokers, drinkers with index linked taxes

ECONOMYNEXT – Sri Lanka is seeing a tourism upturn mostly from last minute bookings and forward bookings are just starting to pick up, industry officials said as the worst currency crisis triggered by the country’s intermediate regime central bank wanes. Sri Lanka’s rupee collapsed in 2022 after two years of money printing to target an […]

Sri Lanka’s shares edge down in mid day trade

ECONOMYNEXT – Sri Lanka may have to pay interest of 4 percent and additional surcharges on an Extended Fund Facility (EFF) loan from the International Monetary Fund, State Minister of Finance, Ranjith Siyamabalapitiya has said. “This is a loan approval, that we have gotten for the eighth time and we may even have to pay […]

Sri Lanka, private creditors should make call on state contingent bonds: IMF official

ECONOMYNEXT – The Ceylon Chamber of Commerce has urged the public, political parties, trade unions and civil society to view Sri Lanka’s ongoing programme with the International Monetary Fund (IMF) positively and to support the reform process. Noting that Sri Lanka cannot afford to revert to an unsustainable subsidy-driven economy and a Central Bank-financed fiscal […]

Sri Lanka’s debt seems “to be sustainable” on a forward looking basis after financial assurances-I

ECONOMYNEXT – Sri Lanka’s leading leftist party the Janatha Vimukthi Peramuna (JVP) has rubbished a crucial deal with the International Monetary Fund (IMF), with the party’s general secretary Tilvin Silva claiming that the lender is only interested in bailing out corrupt governments. Speaking at an event, Silva said that Sri Lanka’s freshly approved 2.9 billion […]

Sri Lanka gets Malaysian nod for 10,000 security guard jobs

ECONOMYNEXT- Forex trapped Sri Lanka is planning to send 10,000 individuals to Malaysia for security guard jobs in hope of boosting foreign remittances and opening new markets for migrant workers, A Foreign Employment Ministry source said. Sri Lanka is facing an unprecedented economic crisis after it declared sovereign debt default in April last year following […]

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