India has given effect to the a 500 million US dollar credit line using which Sri Lanka can import oil, as money printed to keep rates low, boosted imports to record levels, triggering forex shortages and made it difficult to import oil.

The Sri Lankan envoy in Moscow, Prof. Janitha Liyanage yesterday said that Sri Lanka has sought a US$ 300 million Credit Line from Russia to purchase crude oil, gas and coal.“We have made a request to the Russian Government through the...

Further money printing to finance deficits could lead to monetary instability while trade and private credit could eventually shrink, an International Monetary Fund assessment has warned, as the country reels from tax cuts and liquidity inje...

The worker remittance income plummeted in January, continuing the months-long bleeding in the largest foreign income earner to the country, reflecting that the incentives offered by the authorities haven’t been effective in wooing migr...