Sri Lanka, IMF make ‘significant progress’ to staff level deal

Latest talks with Sri Lanka has made significant progress towards developing a policy package to stabilize the country the International Monetary Fund said, but the country also has to move forward on debt restructuring to finalize a bailout.

Economy Next

2022-06-30

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Government introduces new expenditure and relief t...

On 05 December 2024, the government presented supplementary estimates totalling LKR 219.4 billion for the year, which was not included in the original 2024 budget. Supplementary allocations are typically introduced to address unforeseen emer...

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Public debt grew more slowly in the first three qu...

Sri Lanka’s public debt rose at a slower pace in the first three quarters of 2024 compared to the same period in 2023. Whilst domestic debt and foreign increased, the growth was notably lower than in the previous year.

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SL exits ’Restricted Default’ rating

Fitch Ratings upgraded Sri Lanka's Long-Term Foreign-Currency IDR to 'CCC+' from 'RD' and the Local-Currency IDR to 'CCC+' from 'CCC-', citing reduced default risk after completing in...

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