Borrowings by the government in July from the Central Bank and licensed commercial banks amounted to a whopping Rs.320 billion, nearly double the figure in June, as the government settled a billion dollar bond from printed money while the se...

The Finance Ministry this week called for proposals from banks, investment houses and institutional investors to raise a foreign currency term loan denominated in US dollars, euro, renminbi or Japanese yen.

Although the government is yet to reach a definite decision whether to go to the International Monetary Fund (IMF) or not, it has begun preparations for austerity measures such as freezing new recruitments and restructuring welfare programme...

Sri Lanka’s budget deficit for the six months to June 2021 was 781 billion rupees, up 6 percent from a year earlier, or 4.7 percent of projected gross domestic product, data shows, though outstanding debt was accelerating at a faster p...