Sri Lanka’s year-on-year economic expansion in the third quarter of 2023 was 1.6% and in the fourth quarter 4.5%, the IMF said. The economic crisis in early 2022 left Sri Lankans suffering from severe shortages of food, medicine, fuel and power, drawing strident pr...
There are several reasons for this crisis and the economic turmoil has sparked mass protests and violence across the country. This visual breaks down some of the elements that led to Sri Lanka’s current situation. A Timeline of Events The ongoing problems in Sri Lanka have bubbled up after ...
The Central Bank of Sri Lanka forecast the economy will shrink by 2% this year, but expand by 3.3% in 2024. The prediction is more optimistic than the International Monetary Fund (IMF), which forecast a contraction in 2023 of around 3% and growth of 1.5% next year. The central bank's ...
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Friday October 6, 2023 5:10 pm A palpable sense of optimism emerged regarding Sri Lanka’s economic outlook at a recent high-profile economic forum hosted by HSBC Sri Lanka in Colombo attended by key business leaders, economists, and officials. The country has faced unprecedented challenges in ...
The economic future of Sri Lanka remains uncertain, as the country navigates debt restructuring negotiations with private creditors and implements structural reforms to boost growth potential, according to the World Bank’s latest Global Economic Prospec
institutions are suffering from a huge debt burden. On April 12, 2022, Sri Lanka declared its inability to pay its debts, with foreign exchange reserves hitting zero. The current situation is vastly improved, with foreign exchange reserves standing at $4.4 billion by the end of December 2023....
Wednesday June 28, 2023 5:07 pm ECONOMYNEXT – Sri Lanka’s shares closed higher on Tuesday, with more foreign participation seeing in the market due to positive macro economic sentiments, an analyst said. The main All Share Price Index was up 0.79 percent or 74.04 points at9,442.95, this...
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COLOMBO, March 13 (Xinhua) -- An all-party conference in Sri Lanka will be held on March 23 to discuss the current economic situation in the South Asian country, said local media reports on Sunday quoting the presidential secretariat.