International Monetary Fund (IMF) says that continued ownership of reforms is essential to rebuild fiscal credibility to improve governance and reduce corruption vulnerabilities. Releasing the second tranch of the IMF’s $ 2.9 billion extended fund facility, IMF said that as part of the IMF-supported arrangement, Sri Lanka has undertaken significant reforms to pave the way…
Sri Lanka’s debt restructuring efforts have reached a crucial juncture as negotiations with international creditors intensify. The country’s crippling debt burden, which stands at a staggering 129% of its GDP, has been a major factor in the ongoing economic crisis. In recent weeks, there have been encouraging signs of progress towards a comprehensive debt restructuring…
James Finlay Kenya has completed its sale to Sri Lanka-based Browns Investments PLC. In the deal, 15 per cent of the sale value has been reserved for the local community through the Kipsigis Highlands Multipurpose Cooperative Society (KHMCS). The estate will now trade as Browns Plantations Kenya, the first investment by the multinational in the…
Sri Lanka and a group of its creditor nations said on Wednesday they have reached an agreement in principle on debt restructuring, a key step needed for the South Asian nation to emerge from its severe economic crunch. The deal will help Sri Lanka clear the first review of a bailout under the International Monetary…
