Development and Economic News

The Executive Board of the International Monetary Fund (IMF) completed the second review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about US$336 million).

The ‘Sri Lanka Festival’ (Shri Lanka Mahothsawaya) after a four-year hiatus influenced by various reasons has finally come out of the woods, with a glamorous event being organised in Japan, it was reported.

The Planters’ Association of Ceylon (PA) yesterday issued a statement strongly condemning the recent illegal and unacceptable behaviour exhibited by Minister Jeevan Thondaman at Pedro Estate, Nuwara Eliya.

Chair of the Committee on Public Finance, Dr. Harsha de Silva has called for immediate action to regulate online casinos.

Remittance income from Sri Lankans working abroad has continued to remain robust through May as the country received US$ 544.4 million in the month. This is both, higher from a month ago levels as well as the year earlier levels.

Sri Lanka has been recognised as one of the ‘3 Must — Visit Travel Destinations for summer 2024’ by a specialist contributor to the prestigious Forbes magazine.

Sri Lanka has been elected by the United Nations General Assembly (UNGA) to the United Nations Economic and Social Council (ECOSOC) at the elections held in New York, for a three-year term commencing on 01 January 2025.

The long delayed SriLankan Airlines divestiture is nearing the tender process of selecting a prospective acquirer with the bid submission deadline extended to August from May this year, the Aviation Ministry confirmed.

The slowness in Sri Lanka’s debt restructuring process and its country rating are seen as barriers to attracting foreign funding – especially for climate action.

State Minister of Technology, Kanaka Herath, announced that the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted preliminary approval for ‘Starlink’ to provide satellite-based internet services in Sri Lanka.

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