The Inland Revenue Department (IRD) has called on large banks, finance companies and private sector companies to pay their first quarter taxes upfront, ahead of the due date, as the Government is facing a cash-flow problem in paying public s...

After two years of massive budget deficits, Sri Lanka is on its way to record another blowout budget deficit in the current year, with the deficit estimated for 2022 at 10.2 percent of gross domestic product (GDP), the estimates by the Centr...

Amid the worsening economic situation, the International Monetary Fund’s (IMF’s) mission chief to Sri Lanka stated that the world financial body is expected to begin the next round of technical discussions with the island nation...

Sri Lanka’s usable foreign reserves were down to 50 million US dollars and it may take six months to wrap up a deal with the International Monetary Fund, Finance Minister Ali Sabry said