By MAHADIYA HAMZA ECONOMYNEXT – Sri Lanka’s tourism revival is facing a challenge in bringing in more high spending foreign visitors due to increasing protests locally while monetary tightening, impacts of Russian invasion into Ukraine, and rising inflation globally.The move is likely to slow the island nation’s recovery from the unprecedented economic crisis as it is […]

By SHIHAR ANEEZ Leaving his family and relatives was the hardest decision for Suren. But he had no other option.He never wanted to go abroad for work. An accountant by profession, Suren even had the opportunity to be promoted for a higher post at the private firm he was working at in Colombo. But he was […]

Leaving his family and relatives was the hardest decision for Suren. But he had no other option.The post Sri Lankans migrate, work over time, eat less to beat inflation appeared first on EconomyNext.

Investor sentiment has turned buoyant after IMF comments

Shares have been on the rise mainly on positive sentiment after the IMF comments.

Market sees over 600 million rupees of net foreign inflow

Market saw net foreign outflow for the 1st time in 16 straight sessions.

(PTI) The IMF chief Kristalina Georgieva yesterday (4) said she is pleased the Washington-based lender and the Sri Lankan government have reached a staff-level agreement to provide about $2.9 billion to help the bankrupt country, terming the deal as an “important step forward.” The International Monetary Fund (IMF) on Thursday announced that it will provide […]

"Investors expect the economy to recover sooner than later."

The National movement for Social Justice (NMSJ) said that it is gravely concerned about a number of actions taken by the Ranil Wickremesinghe administration in recent days.NMSJ chairman, former Speaker, Karu Jayasuriya said that it is their belief that the arrests of Joseph Stalin, the General Secretary of the Ceylon Teachers’ Union, Palitha Atampola and […]

Calls for unity in a country torn apart by nationalism and monetary instability

The government defaulted an interest payment of 78 million US dollar of a sovereign bond on May 19

Talks will continue over the next few days with an IMF delegation already in the island nation, he said.

"I also wish to inform you that we will extend our support as a responsible opposition to correct decisions."

"Every day that passes, the future of this country is put at greater risk."

“After I speak to [friendly nations], there will be help coming from there. They won’t allow people to starve.”

22-04-2022, Amsterdam: In the latest series of EFSAS interviews, Mr. Junaid Qureshi (Director EFSAS) welcomed virtually Professor Mick Moore, a highly regarded political economist and professorial fellow at the Institute of Development Studies at the University of Sussex. He is also the founding CEO of the International Centre for Tax and Development and was appointed […]

“The prolongation of military commands made Rome a servile state”. Machiavelli (The Discourses) By Tisaranee Gunasekara Stratospheric defence costs constitute Lankan economy’s deadliest ticking time-bomb. Militarization is menacing Southern (and Lankan) economic wellbeing as much as it is impeding Northern democracy. The fundamentally weak Lankan economy can ill afford the huge amounts of money sp...

Global banking giant HSBC is upbeat on Sri Lanka’s external trade, predicting exponential growth above global average over the next 15 years. In its October 2011 dated HSBC Trade Connections Trade Forecast Quarterly Update, HSBC said Sri Lanka’s external trade would grow in volume terms by 105% by 2025 and value wise by 83% to ...