WASHINGTON, June 24, 2024— The World Bank’s Board of Executive Directors has approved $150 million in financing for Sri Lanka to improve the quality and utilization of its primary healthcare services. The newly approved Sri Lanka Primary Healthcare System Enhancing Project will help improve the quality of care and increase the use of primary medical…
The Sri Lankan government’s submission to the International Monetary Fund (IMF) for the 2024 Article IV Consultation and the Second Review under the Extended Fund Facility (EFF) has been met with significant criticism. Many argue that the stringent conditions imposed by the IMF exacerbate the country’s economic challenges, disproportionately affecting the poor and vulnerable. Critics…
Year Number of individuals granted CIF value (LKR) Applicable Luxury tax (LKR) Exemption (LKR) 2019 2,034 15,438,165,476 8,386,568,292 8,386,568,292 2020 1,470 10,949,550,670 5,952,819,964 5,952,819,964 2021 3 102,428,935 85,687,264 85,687,264 Total 3,507 26,490,145,081 14,425,075,520 14,425,075,520 2023 138 2,644,918,039 1,090,150,823 436,560,827 Total 138 2,644,918,039 1,090,150,823 436,560,827 Grand Total 3,645 29,135,063,120 15,515,226,343 14,861,636,347 Colombo, Sri Lanka –…
The Parliamentary Committee on Government Accounts has emphasized the critical need for the Labour Department to establish a continuously updated data system, stressing its importance for public safety. This urgent recommendation emerged from a meeting chaired by State Minister Lasantha Alagiyawanna, which reviewed the Auditor General’s reports for 2021 and 2022 and evaluated the current…
Sri Lanka is set to introduce a series of tax changes by next month aimed at increasing government revenue, according to a recent report by the International Monetary Fund (IMF). The report, which follows the IMF’s review of its program with Sri Lanka, outlines several key tax reforms. One of the major changes includes the…
While Sri Lanka’s macro-economic situation has improved, the impacts of the economic crisis together with associated austerity measures are affecting the poorest and already marginalized groups the most, said Volker Türk, the current High Commissioner for Human Rights. In his opening comments at the 56th session of the Human Rights Council, the UN Human Rights…
Sri Lanka Energy Project (SLEP) has received top honors at the 2024 annual conference for the Society for International Development, the premier U.S. event for international development professionals. The award was given in recognition of the innovative solar-powered electric vehicle battery swapping stations owned and operated by Sri Lanka’s Sling Mobility (Pvt.) Ltd., particularly highlighting…
The Doing Good Index (DGI) 2024 evaluates the environment for social investment in Sri Lanka across four sub-indexes: Regulations, Tax and Fiscal Policy, Procurement, and Ecosystem. Here’s a summary of Sri Lanka’s performance compared to the Asia average: 1. Regulations: Number of Clearances Required to Register: Sri Lanka requires only one clearance to register a…
India, the world’s largest democracy, has a profound influence on its neighbouring countries, including Sri Lanka. The Indian general election, a massive democratic exercise involving over 900 million eligible voters, determines the political direction of the country for the next five years. In the recent election, Prime Minister Narendra Modi secured a significant victory with…
State Minister of Finance Shehan Semasinghe said that the impact of political power struggles must not be detrimental to addressing the economic crisis. He detailed the government’s strategic measures since 2022, which have been crucial in stabilizing the economy. The Minister emphasized that the decisions taken by the President and the government, supported by parliamentary…
