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Foreign donor agencies agree on coordinated aid program for Sri Lanka
World Bank (WB), Asian Development Bank (ADB), International Monetary Fund (IMF) and Asian Infrastructure Investment Bank (AIIB) representatives decided that a coordinated assistance program supported by the multilateral financial institutions is required for Sri Lanka to recover from the economic crisis the country is currently facing.
Sri Lanka money printing galore leads to economic collapse
Despite tightening of monetary policy and curtailing money printing, the Central Bank is compelled to increase the reserve money base as a result of the finance ministry’s proposal to raise the government borrowing ceiling to over Rs. 4.5 trillion from present Rs 3.84 trillion.
World Bank approves Sri Lanka’s request for IDA concessional financing
The World Bank has approved Sri Lanka’s Eligibility to access concessional financing from the International Development Association (IDA).
Construction sector suggests government to settle dues issuing treasury bills
The country’s construction sector has suggested to the government to issue them with treasury bills in lieu of their dues if no cash is available.
ADB finalizes SL’s proposed projects for economic revival through reforms
Vice President of Asian Development Bank (ADB) Shixin Chen now in Sri Lanka stated this when he called on Prime Minister Dinesh Gunawardena yeaterday (Dec. 5) at the Prime Minister’s Office in Colombo