Sri Lanka - Asian News from UK

India to help Lanka in strengthening its energy sector

India already has a significant stake in Sri Lanka’s energy sector and a strategic interest in Trincomalee…reports Asian Lite News A high-level Indian delegation led by the Secretary of the Ministry of

March 26, 2023

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Sri Lanka settles part of India’s credit line

State Minister for Finance Ranjith Siyambalapitiya said that $120 million was used to settle the loan taken from India, reports Susitha Fernando Sri Lanka has used the very first tranche of the

March 25, 2023

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IMF funding will lay foundation for a strong economy: Lanka President

The President told Parliament that the government also aims to reduce the inflation rate to 4 per cent to 6 per cent and bring it to a single digit by mid-2023…reports Asian

March 22, 2023

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Lanka bailout: IMF stresses anti-corruption, governance reforms

On Monday night, the IMF approved the 48-month extended arrangement under the Extended Fund Facility (EFF) of $2.9 billion….reports Asian Lite News After Sri Lanka secured the $2.9 billion International Monetary Fund

March 21, 2023

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‘LKR to appreciate once we enter IMF deal’

Wickremesinghe said once Sri Lanka receives the IMF funds, it can start restructuring external debt, adding that the LKR will trade between 185 to 200 against a dollar….reports Asian Lite News The

March 21, 2023

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Lanka secures $2.9bn IMF bailout

The development was confirmed to the media by State Minister of Finance Shehan Semasinghe late Monday night…reports Asian Lite News As Sri Lanka is still undergoing its worst ever economic crisis since

March 21, 2023

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Lanka’s debt burden continues to soar

The government was responsible for an additional 5.62 per cent of the guaranteed debt held by state-owned businesses, bringing the total to 125.7 per cent of GDP….reports Asian Lite News The Sri

March 20, 2023

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IMF to approve $2.9 bn bailout package for Lanka

Sri Lanka started the related negotiations with the international lender in 2022 after the South Asian country was hit by a severe economic crisis….reports Asian Lite News Sri Lankan central bank governor

March 19, 2023

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Indian housing project transforms lives in Lanka

The Indian Housing Project in Sri Lanka was launched in 2010 and construction of housing units is still on….reports Asian Lite News On March 11, High Commissioner of India Gopal Baglay and

March 15, 2023

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China to tap Lanka’s fuel market

The move will mark the entrance of second private outside fuel supplier after India’s Lanka IOC…reports SUSITHA FERNANDO China expressed its plans to enter Sri Lanka’s fuel market by investing on importing,

March 14, 2023

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