The Government has done away with licencing of non-essential imports, a move enforced in March but slapped higher taxes as a restrictive measure to better manage the pressure on scarce foreign reserves.

Sri Lanka has raised value added tax to 12 percent from 8 percent with effect from June 01 through an extraordinary gazette published at midnight on May 31 as attempts are made to contain a runaway budget deficit engineered in 2019 by Keynes...

The World Bank has ruled out bridging finance or new loan commitments to crisis-hit Sri Lanka until the nation’s economy sets up an adequate macroeconomic policy framework. However, the WB has said that it is reshuffling the already al...

IMF expected to issue statement on progress of technical level talks with Sri Lanka shortly. The Central Bank said they have finalised the two sets of financial and legal advisors to negotiate with multiple creditors of Sri Lanka and th...