Pakistan has made formal request to the International Monetary Fund (IMF) for seeking next bailout package in the range of $6 to $8 billion under Extended Fund Facility (EFF) with possibility of augmentation through climate financing, The News reported on Saturday.

Having hit a roadblock with international bondholders, uncertainty looms over the economy of crisis-hit Sri Lanka and an upcoming review by the International Monetary Fund (IMF), experts warn.

Two foreign women, who were attempting to smuggle in 500 grams of cocaine by ingesting them have been arrested at the Bandaranaike International Airport (BIA) in Katunayake.

Saturday 20th April, 2024 The Gaza conflict shows signs of spiralling into a much broader war, which is likely to threaten world peace and destabilise the global economy. Friday’s Israeli missile and drone strikes on the Iranian city of Isfahan, which is said to be home to several nuclear facilities, has pushed the Middle East […]

As a collective body of exporters, we have been at the forefront of sustaining employment and ensuring a steady flow of foreign exchange, even amidst the most severe economic downturns faced by our nation. Our membership covers the majority of merchandise exports, which account for some 13% of Sri Lanka’s GDP. Today, we stand united […]

In a recent televised interview, Nishan de Mel, the Executive Director of Verité Research, stated that holders of Sri Lanka’s International Sovereign Bonds (ISBs) have expressed concerns about specific aspects of the debt sustainability analysis conducted by the country alongside the IMF. This disagreement is one of the key hurdles in reaching an accord with […]

President Ranil Wickremesinghe on Thursday (18) told youth political activists, affiliated to his party in Nuwara Eliya, that he was willing to convert the historical post office at Nuwara Eliya into a tourist hotel if that is what the people desire. The meeting took place at the President’s House in Nuwara Eliya. “We would like […]