EU, AFD, and World Bank support strengthening public finance management in Sri Lanka

The Government of Sri Lanka and the World Bank, European Union (EU) and Agence Française de Development (AFD) have recently signed financing agreements to help strengthen Sri Lanka’s management of public finances.

The grant of EUR 9.8 million for Public Finance Management aims to support improving economic governance, transparency, and accountability in how public finances are spent.

EU, AFD, and World Bank support strengthening public finance management in Sri Lanka | Daily FT

DailyFT

2023-07-21

සබැඳි පුවත් සහ විශ්ලේෂණ

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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