Inflation ( CCPI)0.5% (Aug 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.61%
12M T-Bill Rate10.03%
2Y T-Bond Rate11.05%/ 11.15%
4Y T-Bond Rate12.85% / 12.95%
USD/LKR299/300
Reserves $5.9Bn (Aug 2024)
Cum. Trade Deficit $2,550 Mn (June 2024 cumulative)
Cum. Fiscal DeficitLKR 599Bn (June 2024)

Sri Lanka extends the DDR deadline for the third time, till 11th September

IMF & Sri LankaAug 28, 2023
Sri Lanka extends the DDR deadline for the third time, till 11th September

Sri Lanka is expected to complete the DDR before the 1st review of IMF bail-out package of USD 2.9Bn. The IMF team is expected to carry out the country review from September 14th onward. Due to the mounting pressure on restructuring of country’s largest social security fund and legislative barriers, the full implementation of the DDR has been delayed.

But dollar-denominated domestic debt (SLDB) restructuring was concluded by the CBSL a week ago with private investors.

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.