Sri Lanka risks stagflation as prices continue to soar

Sri Lanka appears to be entering into an era of extremely high inflation and low growth, stoking serious concerns of stagflation, as the policymakers seem to have lost their grips on the economy, which is now going haywire with endless shortages of commodities and long lines of queues for daily essentials, which now have proved to be deadly for some unfortunate senior citizens.

Daily Mirror

2022-03-22

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SriLankan loses Rs. 12.9 b in Q1

SriLankan Airlines recorded a Rs. 12.9 billion net loss in Q1 FY25, driven by cash flow challenges, legacy issues, and financial costs from past debt. ...

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SL pays $ 503 m for 1H debt servicing

By June 2024, Sri Lanka's external debt had reached $37.5 billion, with $8.19 billion in unpaid debt service accumulating since the April 2022 debt standstill on bilateral and commercial loans.

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Workers’ remittances decline in September

In September 2024, Sri Lanka’s remittances reached $556 million, tourism earnings were $181 million, and gross official reserves rose to $6 billion, covering 3.9 months of imports.

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