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The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.
COLOMBO :Sri Lanka's economy shrank 11.5per cent in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.The downturn was driven by high inflation and high interest rates, the rising cost of components, as well as restri
COLOMBO, June 15 (Reuters) - Sri Lanka's economy shrank 11.5% in the first three months of 2023 from the previous year, government data showed on Thursday. The country is experiencing its worst financial crisis in decades. (Re...
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka's economy shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the ...
COLOMBO, June 13 (Reuters) - Sri Lanka's government has decided to extend a restriction on outward capital transactions by six months due to pressure on its limited foreign exchange reserves, cabinet spokesperson Bandula Gunawardena said on...