The Women's Chamber of Industry and Commerce (WCIC) has encouraged all stakeholders to support the Domestic Debt Optimization (DDO) framework and work towards reviving the economy.
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the bank’s standing deposit facility rate (SDFR) and the standing lending facility rate (SLFR) by 200 basis points to 11.00 per cent and 12.00 per cent, respectively.
The Sri Lankan government’s proposal for treatment of domestic debt marks a significant step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local banking sector, but complications may arise from a number of factors, says Fitch Ratings.
Sri Lankan stocks extended gains as markets reopened post a three-day holiday, after a plan to revamp domestic debt eased concern over financial sector stability.
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, in the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.
The Sri Lanka Export Development Board (EDB) successfully organized the inaugural "EDB Open Day" program, aimed at providing guidance to innovative entrepreneurs and encourage their participation in the export sector.
Sri Lanka had met 29 of the 100 trackable commitments of the International Monetary Fund (IMF) programme and had failed on three as of the end of May 2023, according to ‘The IMF Tracker’ dashboard of Verité Research.
Sri Lanka’s domestic lenders will start making a profit in an interest rate-falling environment as bond prices rise, while continuous fall in Government bond yields may make the public debt sustainable, a Bloomberg report said.
Several leading local and foreign heads of leading companies appreciated the Government’s genuine efforts to recover the country from the crisis and extended their support in rebuilding the country focusing on areas in which they could contribute to.
A group of Spanish travel influencers who visited Sri Lanka. PIC: Sri Lanka Tourism
