forex

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...

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....

CB says Funds Allocated for Jan. 18 Bond Settlement

by |07 January 202218 January 2022|Verité in the News

Published on Daily Mirror It appears that CB is positive of wrapping up US $ 1.9bn Indian funding within this month CB is also hopeful of US $ 1bn worth of swap line from Qatar Leading economist advises govt. not...

Sri Lanka Debt Re-structuring: Opinion Divided Among Think Tanks

by |07 December 202110 December 2021|Verité in the News

Published on EconomyNext Sri Lanka should start talking to the International Monetary Fund at least as a second option head of a think tank based in Colombo said, but opinion was divided on whether or not a debt restructuring with...

විදේශ විනිමය අනුපාතය – Nishan de Mel on Hiru Evening NewsCast

by |08 September 202113 September 2021|Interviews & Articles

Executive Director Nishan de Mel speaks to Hiru Evening News on the Central Bank's valuation of foreign exchange rates and how it could potentially lead to a deepening of the foreign exchange crisis Sri Lanka is facing.

Sri Lanka Declares Economic Emergency – Nishan de Mel on Al Jazeera Inside Story

by |04 September 202113 September 2021|Interviews & Articles

Executive Director Nishan de Mel appears on Al Jazeera's Inside Story segment alongside State Minister Ajith Nivaard Cabraal and MP Harsha de Silva to discuss the sudden depreciation of the Sri Lankan rupee and the recent forex crisis.