Sri Lanka’s largest private sector healthcare provider Asiri Hospital Holdings PLC, a unit of Softlogic Group, in a landmark announcement yesterday disclosed its plans to set up a state-of-the-art hospital within China-backed Port City Colombo (PCC).
The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic worries and geopolitical strains.
The Central Bank officials expressed confidence in wrapping up the negotiations with both its bilateral and commercial creditors well prior to the first review of the International Monetary Fund (IMF)-assisted programme, which would come up in six months.
The Monetary Board of the Central Bank left the key policy rates unchanged at the current levels as financial conditions continue to ease since the government clinched the US$ 3 billion Extended Fund Facility (EFF) with the International Monetary Fund two weeks ago.
Sri Lanka expects to conclude the discussions with its creditors-both official and private-and reach a debt relief deal by the first review of the International Monetary Fund (IMF) programme that received Executive Board approval early last week.
Sri Lanka’s automobile industry is requesting the government to consider a quota system for vehicle imports for its survival and the livelihoods of over 100,000 people, who are directly or indirectly employed by it.
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.
Sri Lanka is in dire need to correct its image in the eyes of the international community, given the negative sentiments that are still largely prevalent, as stepping up efforts in this regard is the marketing fraternity of the country.
The new Monetary Law Act, which aims to grant independence to the Central Bank with enhanced accountability, will empower the monetary authority to make unpopular but essential decisions in prioritising price stability in the country under a flexible inflation target framework, a top official said.
While seeking presidential intervention, the Sri Lanka Shippers’ Council (SLSC) warned that the recent decision by Ports, Shipping and Aviation Minister Nimal Siripala De Silva to remove the regulations on freight charges is likely to hurt the competitiveness of Sri Lanka’s exports and result in higher import costs, fuelling inflation.