Key Points
Sri Lanka's beleaguered economy, grappling with a bankruptcy declaration in April 2022, has shown signs of recovery with a remarkable uptick in growth, marking a significant milestone since the economic crisis hit the island nation...
Official data released by the Department of Census and Statistics (DCS) unveiled a promising year-on-year GDP growth rate of 1.6 per cent for the third quarter, indicating a noteworthy shift towards positive economic momentum, as stated in a recent press release on Friday...
The island nation had previously encountered a substantial setback, registering a staggering minus 8 per cent growth at the time of its bankruptcy declaration..
The International Monetary Fund (IMF), which recently disbursed the second tranche of its USD 2.9 billion bailout package, has projected a continued negative growth trajectory for Sri Lanka throughout 2023..
Sri Lanka, grappling with a sovereign debt default, remains engaged in negotiations with external creditors, striving to secure concessions on repayment terms as part of the overarching strategy towards achieving sustainable economic stabilityan integral aspect of the ongoing IMF bailout discussions..
You might be interested in
Crisis-hit Sri Lanka to see economic contraction in 2023: Report
05, Apr, 23Sri Lanka's economy contracted by 7.8% in 2022.
In Sri Lanka, a long and rocky road to economic recovery
31, Mar, 23The International Monetary Fund has approved a $3 billion package for Sri Lanka. When the government implements the conditions stipulated by the Fund, it is Sri Lanka’s poor who will bear the brunt.
IMF team overseeing Sri Lanka's bailout programme visits country first time
15, Jan, 24Talks are expected with Shehan Semasinghe, the state minister of finance, who leads the local IMF engagement under President Ranil Wickremesinghe. | World News
Cash-strapped Sri Lanka's economy records positive growth for the first time since economic crisis
16, Dec, 23Sri Lanka recorded a minus 8 per cent growth when it declared bankruptcy in April 2022. Sri Lanka's bankrupt economy has recorded a positive growth for the first
Mint Explainer: Sri Lanka fails to secure next tranche of IMF bailout. Here’s why?
28, Sep, 23The $3 billion bailout was agreed in March this year and Sri Lanka was hoping to receive the next tranche of funds, estimated at USD 333 million
GDP numbers strong, growth momentum to continue: CEA Nageswaran
01, Mar, 24New Delhi, Feb 29 (PTI) Chief Economic Advisor V Anantha Nageswaran on Thursday said the GDP numbers are “strong” and good momentum in economic activities is likely to continue in the fourth quarter. Nageswaran, during a media interaction after the release of GDP data, also said that the agriculture sector, which recorded a decline of […]
Sri Lanka delays local polls amid economic crisis
24, Feb, 23Sri Lanka crisis: The March 9 polls would only have picked local councillors but would be the first electoral test for Wickremesinghe since he took office in July after months of protests. | World News
Sri Lanka gets $3 billion IMF loan to help ease economic crisis
20, Mar, 23The International Monetary Fund approved a $3 billion loan program for Sri Lanka, a crucial step for the bankrupt nation to stabilize its economy and begin restructuring its debt.
IMF bailout for Sri Lanka finally comes through: what is the background, what happens now?
21, Mar, 23While the IMF package is hardly sufficient — the first tranche is $33 million — to tide over Sri Lanka's crisis, it will help the country restore its credibility with international private creditors
Bankrupt Sri Lanka's recovery 'not yet assured': IMF's warning
27, Sep, 23Sri Lanka Economic Crisis: "Despite early signs of stabilisation, full economic recovery is not yet assured," the IMF said. | World News