Secretary to India’s Ministry of Petroleum and Natural Gas Pankaj Jain and IndianOil Corporation Ltd. Chairman Shirkant Madhav Vaidya are expected to arrive in Sri Lanka today for a brief visit, Mirror Business learns.
President Ranil Wickremesinghe yesterday expressed confidence in creating a new financial culture and environment that had not prevailed in Sri Lanka before, through the Extended Fund Facility (EFF) programme that was approved by the International Monetary Fund (IMF) Executive Board this week.
The Central Bank is continuing to preserve its position as a net buyer of foreign currency from the domestic foreign currency market, with the dollar liquidity conditions started easing from around early this year, following debt standstill, lower tepid imports and increased dollar inflows.
Tourist arrivals to Sri Lanka topped 84,000 in the first three weeks of March. The provisional data from the Sri Lanka Tourism Development Authority showed that during the March 01-21 period, the island nation welcomed 84,585 international visitors.
The Paris Club Creditors in its recently held meeting have agreed to provide financing assurances to support the approval by the IMF Executive Board of the envisaged IMF program for Sri Lanka.
The Monetary Board of the Central Bank decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent.
The World Bank this week revised down the economic growth forecast for nearly 95 percent of advanced economies and 70 percent of emerging market and developing economies as the global economy is projected to grow by 1.7 percent in 2023
The first Woman Rotary Global President Jennifer Jones called on all Sri Lanka Corporates to be focused not only on profit or bottom lines but also in the triple bottom line metrics of social, environmental and financial results even though the country is experiencing its toughest economic climates in history.