Sri Lanka has proposed a revised restructuring plan to its sovereign bondholders as it aims to finalize debt restructuring by mid-year, amidst a lawsuit from holdout investor Hamilton Reserve seeking bond payment enforcement. The U.S. court granted a six-month stay on the case, with the deadline...

The Ceylon Electricity Board (CEB) plans to reduce electricity tariffs by 18 percent, attributing the possibility of this reduction mainly to the increased contribution of hydropower to Sri Lanka's energy mix, thanks to recent sufficient rainfall that enhanced the power generation capacity of...

The controversy surrounding the Sri Lankan Finance Ministry and the Inland Revenue Department's (IRD) failure to recover taxes from a significant sugar tax scam in 2020 has escalated. The Department of Trade and Investment Policy, under the Finance Ministry, claimed there was no loss of reven...

Sri Lanka is on the path to recovery from its economic crisis, though it faces risks from a global slowdown and potential setbacks in its International Monetary Fund (IMF) program, according to the central bank's Monetary Policy Report from February. The continuation of the IMF's Extended...