There is a risk of halting the school nutrition program as the government has not made the payments to the suppliers for the free meals provided to the students in the primary classes from grade 1 to grade 5 in schools for almost two months. Principals and suppliers point out that at present such suppliers…
Ajith Perakum Jayasinghe Currency notes issued by the National People’s Power (NPP) government, signed by Central Bank Governor Nandalal Weerasinghe, are not yet in circulation. Then, is it false that the government printed Rs. 100 billion worth of currency? That’s correct; it’s a different process. No notes have actually been printed. Instead, money has been…
A significant 22% of Free Trade Zone workers did not cast their votes in the recent Presidential Election, according to the Free Trade Zone Workers’ Solidarity. This alarming figure has raised concerns that even more workers may abstain from voting in the upcoming Parliamentary Election if current barriers remain unaddressed. Sugath Rajapaksha, the coordinator of…
The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to -0.2% in September 2024 from 1.1% in August 2024, according to the latest data released by the Department of Census and Statistics. Meanwhile, food inflation also decreased to 0.5% in September, down from 2.3% in August. The NCPI…
The price of Nadu rice has exceeded the government-set control price, now retailing at over Rs. 230 per kilogram, while the maximum retail price remains at Rs. 220. This surge, reported by the Maradagahamula Rice Producers’ Association, is attributed to a shortage of Nadu paddy. B.K. Ranjith, Chairman of the association, expressed concerns about the…
The new government’s approach to major national issues appears to be one of caution and of continuing in the direction set by its predecessor. This is most clearly visible in its adherence to the IMF agreement and its strict conditions. The government has also retained key officials dealing with the economy despite having subjected them…
Sri Lankans working abroad sent back US$ 555.6 million in September 2024, marking a 15.2% increase from the same month last year, according to recent data. This brings the total remittances for the first nine months of the year to US$ 4.84 billion, an 11.5% rise compared to 2023. While September’s figures show a slight…
As of September 2024, the total number of active government pensioners in Sri Lanka stands at 717,347, according to the Department of Pensions. These pensioners include 392,966 civil service pensioners, 187,913 widows and orphans fund pensioners, and 136,468 retired military personnel. Over the first nine months of the year, the total expenditure for pensions amounted…
Sri Lanka has made significant progress in its debt restructuring efforts, finalizing a key agreement in September 2024 with international sovereign bondholders (ISBs) and bilateral creditors, including China, India, and Japan. This agreement marks a crucial step in the country’s economic recovery following its 2022 sovereign default and the subsequent economic crisis. International Sovereign Bonds…
A high-level delegation from the International Monetary Fund (IMF) arrived in Sri Lanka to engage with the newly formed government led by President Anura Kumara Dissanayake. The primary objective of the visit was to initiate discussions on the progress of the IMF Program and necessary steps towards the release of the fourth tranche of the…
