Sri Lanka to Face Challenges Implementing IMF Conditions

07/09/2022

Economists say the package will not be a panacea for Sri Lanka’s problems, with the economy already shrinking due to policies recommended by the IMF.

Securities / Derivatives

Sri Lanka Launches Third Phase of Capital Market Digitisation

30/08/2022

SEC chairman Viraj Dayaratna said the CSE will introduce new products, including paper gold, SPACs, Islamic products, structured warrants and green bonds.

Foreign Bondholder Files Suit Against Sri Lanka Over Default

29/06/2022

Sri Lanka’s prime minister Ranil Wickremesinghe expects to have a debt restructuring agreement with the IMF in place by late July.

Capital / Liquidity

Sri Lankan Banks Get Reprieve Amid Forex Crisis

28/05/2022

Banks can use their CCB and operate at 90 percent LCR and NSFR. IMF loan not expected until at least August.

Securities / Derivatives

SEBI Proposes to Allow Confidential Filings of IPO Documents

19/05/2022

SEBI is looking to incentivise more IPO listings by addressing concerns that information contained in IPO documents could be used by an applicant’s competitors.

Capital / Liquidity

CBSL Direct Banks to Halt Dividends as Sri Lanka Crisis Ensues

13/05/2022

Sri Lanka has appointed a new prime minister after protests turned violent. Banks are told to suspend discretionary payments through the “prevailing macroeconomic tumult”

Market Infrastructure

Sri Lanka Expects to Secure IMF Loan Within Two Months

28/04/2022

Sri Lanka is trying to restructure its loans from Chinese banks, offering golden visas to foreigners, and relaxing rules on securities margin financing.

ESG / Sustainability

Sri Lanka Must Provide ‘Adequate Assurances’ for IMF Assistance

22/04/2022

The UNDP says Sri Lanka should introduce a temporary basic income and negotiate “debt-for-nature” swaps. The stock market has been closed all week.

Market Infrastructure

CBSL, Finance Ministry Declare Sri Lankan Banking System Stable

31/03/2022

The Finance Ministry of and CBSL were responding to rumours of a default by a state bank, which reportedly did not have enough FX to honour a swap with two other banks.