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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President announces sharp daily wage hike for plan...

President Ranil Wickremesinghe announced a 70% increase in the daily wage for plantation workers during the May Day rally of the Ceylon Workers’ Congress in Kotagala. Daily wage rais...

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Gross official reserves increases to USD 5 Bn

By March 2024, Sri Lanka's Gross Official Reserves surged to US$5.0 billion, propelled by significant domestic market foreign exchange acquisitions, with a net intervention totaling US$715 million for the month.

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Merchandise trade deficit narrowed in March

In March 2024, the merchandise trade deficit narrowed to $369 million, compared to $412 million in March 2023, primarily due to higher export growth than import growth.

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