![Sri Lanka has successfully reached a debt restructuring agreement with its international sovereign bondholders, marking a significant step in the nation's efforts to restore debt sustainability. Sri Lanka has successfully reached a debt restructuring agreement with its international sovereign bondholders, marking a significant step in the nation's efforts to restore debt sustainability.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Franilwickremesinghejpg_1720074006653.jpg&w=3840&q=8)
July 3, 2024, 11:20 PM - 2 mins read
The announcement follows the finalisation of debt restructuring agreements with bilateral lenders, including India and China, in Paris on June 26. President Ranil Wickremesinghe described this earlier agreement as a “significant milestone” in bolstering international trust in Sri Lanka's debt-ridden economy.
Read more![Sri Lanka expected to reach debt agreements soon, says IMF Sri Lanka expected to reach debt agreements soon, says IMF](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2F9b0e364054f8ac13932a10a87386d40e_l-1jpg_1717833526539.jpg&w=3840&q=8)
June 8, 2024, 12:58 AM - 3 mins read
Sri Lanka's macroeconomic policy reforms have started to "bear fruit" and the country is expected to reach agreements with external commercial creditors soon, the IMF has said ahead of the second review of it's USD 2.9 billion bailout programme to the cash-strapped country.
Read more![Sri Lanka police arrests handler of 4 ISIS suspects Sri Lanka police arrests handler of 4 ISIS suspects](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fgujaratjpg_1717235998275.jpg&w=3840&q=8)
June 1, 2024, 02:59 AM - 1 min read
The arrest follows an announcement by Sri Lankan Police offering a cash reward of Rs. 2 million for credible information on Osman's whereabouts.
Read more![State Minister for Finance, Ranjith Siyambalapitiya, announced on Friday that Sri Lanka's rupee has begun to regain strength against major currencies, marking a positive turn in the country's economic outlook after facing severe depreciation since 2022. State Minister for Finance, Ranjith Siyambalapitiya, announced on Friday that Sri Lanka's rupee has begun to regain strength against major currencies, marking a positive turn in the country's economic outlook after facing severe depreciation since 2022.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Funtitled-design-20240503t162828485jpg_1714734412658.jpg&w=3840&q=8)
May 3, 2024, 04:06 AM - 2 mins read
The resurgence of the Sri Lankan currency follows a period of economic turmoil, highlighted by the nation's first-ever sovereign default in 2022. During this challenging period, Sri Lanka received crucial assistance from India, facilitating imports of essential goods and stabilizing the rupee through extended currency swaps provided by the Reserve Bank of India
Read more![In a press briefing held on Thursday, Sri Lanka's State Minister of Finance, Ranjith Siyambalapitiya, asserted that despite the country's announcement of default in 2022, it has adhered to stringent financial measures while making tough decisions aimed at strengthening economic recovery. In a press briefing held on Thursday, Sri Lanka's State Minister of Finance, Ranjith Siyambalapitiya, asserted that despite the country's announcement of default in 2022, it has adhered to stringent financial measures while making tough decisions aimed at strengthening economic recovery.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsl-ranithjpeg_1714644871252.jpeg&w=3840&q=8)
May 2, 2024, 03:14 AM - 2 mins read
Despite these efforts, discussions with sovereign bondholders to restructure approximately USD 46 billion of debt are ongoing. However, progress has faced hurdles, as the IMF rejected a proposal from private bondholders in March, citing misalignment with desired debt sustainability parameters.
Read more![As Sri Lanka prepares for crucial negotiations at the IMF and World Bank's spring meetings in Washington, optimism looms over potential breakthroughs in the island nation's ongoing debt restructuring efforts. As Sri Lanka prepares for crucial negotiations at the IMF and World Bank's spring meetings in Washington, optimism looms over potential breakthroughs in the island nation's ongoing debt restructuring efforts.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Foip-57jpeg_1713103303878.jpeg&w=3840&q=8)
April 14, 2024, 07:01 AM - 2 mins read
With an eye on strengthening collaboration and collective action, Shehan articulated the significance of the talks in securing the next tranche of the USD 2.9 billion International Monetary Fund bailout.
Read more![The Asian Development Bank (ADB) has sounded the alarm regarding Sri Lanka's economic future, citing the looming uncertainty surrounding the upcoming elections as a potential catalyst for a downward trend. The Asian Development Bank (ADB) has sounded the alarm regarding Sri Lanka's economic future, citing the looming uncertainty surrounding the upcoming elections as a potential catalyst for a downward trend.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fadb621x414jpg_1712926890182.jpg&w=3840&q=8)
April 12, 2024, 06:01 AM - 2 mins read
"Inflation decelerated in single digits last year following a peak in 2022 and will remain below 10 per cent in 2024 and 2025. Challenges remain, and the upcoming electoral cycle must not delay the reforms required to address the recent economic crisis. Sri Lanka needs to address vulnerability to poverty to ensure inclusive growth," the ADB report cautioned.
Read more![Navigating ATM fees abroad: A guide for Indian travelers Navigating ATM fees abroad: A guide for Indian travelers](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Ftravel-png_1708170306874.png&w=3840&q=8)
February 17, 2024, 03:45 AM - 4 mins read
Wise's study highlights the different fees Indian travellers might face when using ATMs in various countries, an essential factor for those looking to make the most of their travel budgets and avoid extra charges.
Read more![Sri Lankan flag. Sri Lankan flag.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsri-lanka-naijpg_1707831878668.jpg&w=3840&q=8)
February 13, 2024, 05:44 AM - 3 mins read
"The move came as the main opposition and the local Human Rights Commission had expressed concern that the Act was not in compliance with the highest court-prescribed changes," it added.
Read more![India has successfully launched it's Unified Payments Interface (UPI) in both Sri Lanka and Mauritius. The announcement came on Monday, February 12, during a virtual ceremony attended by PM Modi India has successfully launched it's Unified Payments Interface (UPI) in both Sri Lanka and Mauritius. The announcement came on Monday, February 12, during a virtual ceremony attended by PM Modi](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fscreenshot-20240212-143459jpg_1707729014310.jpg&w=3840&q=8)
February 12, 2024, 01:00 AM - 4 mins read
Indians using the services overseas, it has both positive as well negative impacts. Indians abroad will find it convenient to make payments using UPI, leveraging their Indian bank accounts linked to their international mobile numbers. This eliminates the need for multiple currency conversions and enables seamless transactions.
Read more![Petronet LNG Ltd, India's biggest liquefied natural gas company, will in 2025 start supplying LNG to Sri Lanka Petronet LNG Ltd, India's biggest liquefied natural gas company, will in 2025 start supplying LNG to Sri Lanka](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fcompressjpegonline_1_180kb_8505jpg_1707468872405.jpg&w=3840&q=8)
February 9, 2024, 12:54 AM - 4 mins read
Sri Lanka is seeking supply of gas in liquid form to meet requirements for generating electricity and other industries. It was in discussions with Petronet and other suppliers for years and it is only now that it has finally agreed to buy the fuel from the Indian firm.
Read more![Sri Lanka planning to establish a free trade agreement with India by the end of 2024. Sri Lanka planning to establish a free trade agreement with India by the end of 2024.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Findia-sri-lanka-nai-1jpg_1707232225552.jpg&w=3840&q=8)
February 6, 2024, 07:10 AM - 2 mins read
These agreements will open up new markets for the cash-strapped Sri Lankan businesses, contributing directly to the nation's economic growth.
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