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On 27 February 2015, newly appointed CBSL governor Arjuna Mahendran advertised the sale of Rs. 1 billion in 30 year government bonds at a coupon of 12.5% [7] Despite several accounts erroneously cite an indicative rate of 9.5%.
COLOMBO (Reuters) -Sri Lanka is asking international bond holders to take a 30% haircut and is seeking similar concessions from investors in its domestic dollar-denominated notes as it seeks to ...
On 7 March 2023, the rupee gained 0.5% to trade at 250.8 per dollar, registering a 14% increase after the announcement by the IMF that it will finalize a $2.9 billion bailout for Sri Lanka on 20 March and receiving assurances from China that it will assist in the country's debt restructuring efforts.
According to Transparency International's 2023 Corruption Perceptions Index (CPI), Sri Lanka scored a 34 on a scale from 0 ("highly corrupt") to 100 ("very clean"). When ranked by score, Sri Lanka ranked #115 among the 180 countries in the Index, where the country ranked #1 is perceived to have the most honest public sector. [1]
The Central Bank of Sri Lanka was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J. R. Jayewardene. Under the former name of Central Bank of Ceylon, it replaced the Currency Board that until then had been responsible for ...
Maxwell Keegel, the first secretary of the Sri Lankan Embassy in London, accused Tamil employees at petrol stations in the UK of being LTTE operatives engaged in credit card fraud. [39] However, the LTTE dismissed the accusations as attempts by the Sri Lankan government to divert attention from the human rights abuses by its armed forces.
Sri Lanka has seen external instability from around late 2014 suffering two currency crises and low growth with the rupee falling from 131 to 182 to the US dollar by 2018. [6] Foreign debt rose from 30% of gross domestic product in 2014 to 41.3% in 2019 while total debt went up from 76% to 86% as growth slowed amid [ 7 ] Sovereign bond ...
The banking sector in Sri Lanka is monitored by the Bank Supervision Department of the Central Bank of Sri Lanka under the Banking Act, [1] Monetary Law Act [2] and the Exchange Control Act. [3] Three types of financial institutions are permitted under Banking Act and the Finance Companies Act to operate in Sri Lanka by the Central Bank of Sri ...