Inflation ( CCPI)-2.1% (Nov 2024)
GDP5.5% (3Q 2024)
Unemployment4.5% (1Q 2024)
3M T-Bill Rate8.66%
12M T-Bill Rate9.02%
2Y T-Bond Rate9.40%/ 9.50%
4Y T-Bond Rate10.45% / 10.55%
USD/LKR291/292
Reserves $6.46Bn (Nov 2024)
Cum. Trade Deficit $4,762 Mn (Oct 2024 cumulative)
Cum. Fiscal DeficitLKR 970Bn (Sep 2024 cumulative)

COVID19 accelerates spreading in Gulf states

Global IndexesApr 24, 2020
COVID19 accelerates spreading in Gulf states
Annual worker remittances to Sri Lanka estimated at USD 6.7Bn, majority are from Gulf states of Saudi, UAE, Kuwait, Qatar, Oman, Bahrain. COVID19 spreading has been accelerated in those countries in recent weeks risking many Sri Lankan foreign workers. 70% of the recent COVID positive case of Singapore found from the dormitories in which Singapore’s migrant workers live. Khaleejtimes.com reports " South Asian workers facing wage delays and job losses stranded without earnings, food or housing". While opendemocracy.net reports "The number of cases have been exponentially increasing in the Gulf states and although little information has been released by official authorities about how it is particularly affecting migrant workers, many facilities housing migrants all over the region, such as Qatar’s largest labour camp, have been under lockdowns and many companies, whose staff primarily consists of migrant labor, have also quarantined their workers after positive cases started emerging."

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.