Sri Lankan government will sign the final agreement with IMF on the latter's bailout package for the country next month after which assistance would come from multinational donors and a few countries, two presidential advisors said yesterday.

Sri Lankan rupee appreciated yesterday on improved sentiments over the current and future foreign exchange

The Central Bank of Sri Lanka has called for tenders to renovate roof of its holiday home in Nuwara Eliya.

To support Sri Lanka amid an ongoing economic crisis, the International Finance Corporation (IFC), the investment arm of the World Bank, is providing a cross-currency swap facility to three of Sri Lanka’s leading national banks that deal with over 30 percent of Sri Lanka’s remittances and exports.

The International Monetary Fund (IMF) on Saturday called for ‘timely and orderly processes’ under a common framework with regards to Sri Lanka’s debt resolution. The island nation faced a severe economic crisis which resulted in high debt.

The Monetary Board of the Central Bank has decided to reduce mandatory sale of export proceeds/receipts and inward workers’ remittances of commercial banks with effect from February 27, 2023.

The International Monetary Fund (IMF) is considering approving a loan for Sri Lanka, even without China's assurance of debt-restructuring support, Bloomberg News reported on Friday (Feb 17).

Tourist arrivals to destination Sri Lanka have crossed the 50,000 mark for the first two weeks of February, reigniting hopes for a faster recovery in the tourism sector, which is a key source of foreign exchange to the dollar-starved economy.

In a bid to cut down on costs, the Government has decided to shut down 55 project offices whilst suspending 32 operations of other management units of large-scale development projects.