Debt in Sri Lanka

The Desirability of Domestic Debt Restructuring: Verité Research Sri Lanka Economic Policy Group

by |24 October 202225 October 2022|Press Release

The third research note published by the Verité Research Sri Lanka Economic Policy Group presents an analysis by Professor Udara Peiris, Oberlin College, USA, explaining four ways in which Sri Lanka would benefit if the government were to restructure its...

Targeting Assistance: Electricity Consumption is a Superior Method – Verité Research Sri Lanka Economic Policy Group

by |02 August 202217 August 2022|Press Release

In their second public release, supported by a new research note, the Verité Research Sri Lanka Economic Policy Group recommends using electricity consumption as a highly effective and efficient method for targeting cash transfers to the poor. The analysis finds...

Verité Research Sri Lanka Economic Policy Group recommends immediately reinstating PAYE and WHT tax collection methods and implementing the formula on cigarette taxation

by |20 June 202220 June 2022|Press Release

These are immediate simple efficiency measures that will increase tax collection by LKR 229 BN for 2023, and proportionately for the rest of 2022. Sri Lanka ran out of foreign currency reserves and suspended debt re-payment in April 2022. People’s...

Dollar Drought Leaves Sri Lanka Groping in the Dark

by |22 January 202224 January 2022|Verité in the News

Published on Nikkei Asia As Sri Lanka's dollar scarcity worsens, a fresh crop of unusual signs has surfaced about spreading shortages of basic goods. "Candles not available due to gas shortage" was one. It was placed at St. Anthony's church,...

Explainer: Sri Lanka on the Edge as Debt Burden Mounts

by |17 January 202221 January 2022|Verité in the News

Published on Reuters Hit hard by the COVID-19 pandemic, Sri Lanka is facing its most serious financial crisis in years, raising doubts about its ability to pay its creditors. On Tuesday, the island nation will repay $500 million towards an...

Colombo Port City: A new Dubai or a Chinese enclave?

by |17 January 202218 January 2022|Verité in the News

Published on BBC News "An economic game changer" is how officials describe Colombo Port City, a shiny metropolis soaring out of the water along the Sri Lankan capital's seafront. Next to Colombo's leafy business district, the huge expanse of sand...

Sri Lanka’s Imports Increased in 2021 – Cabraal

by |11 January 202218 January 2022|Verité in the News

Published on Newswire Sri Lanka’s import expenses increased to US$ 21.6 billion in 2021, Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal has announced. He pointed out that import expenses stood at US$ 16.1 billion in...

Economist Calls for Debt Default to Avert Hardships on People

by |10 January 202213 January 2022|Verité in the News

Published on Daily Mirror Senior economist Dr. Nishan de Mel says paying down debt won’t improve the country’s sovereign rating, instead it could trigger further downgrades His claim sparks immediate pushback, particularly from investor and financial market participants They warn...

Central Bank sells gold worth US$ 206mn to shore up reserves

by |09 January 202213 January 2022|Verité in the News

Published on The Sunday Times The Central Bank sold more than half of its gold reserve–54.1 percent or US$ 206.8mn worth– last month to shore up forex reserves that had dropped to around a month of imports in November 2021....

Business Sentiment – Confidence at A Seven Month High

by |03 January 202206 January 2022|Verité in the News

Published on Ada Derena Biz At a recent economic forum organised by the Ceylon Chamber of Commerce, Nishan de Mel – the Executive Director of Verité Research – stated that Sri Lanka should pursue a debt restructure by drawing up...

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