As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in August 2024 amounted to US$ 1,165.4 million, recorded an increase of 4.18 % compared to the month of August 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut based products and Spices & Concentrates.
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 26 September 2024, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 8.25 per cent and 9.25 per cent, respectively.
Sri Lanka Tourism presented “Destination Sri Lanka” at the International & French Travel Market 2024 IFTM Top Resa held at Porte de Versailles in Paris from 17 to 19 September 2024. The spacious, beautiful and well-located Sri Lanka Pavilion organized by Sri Lanka Tourism was a major attraction at IFTM, and featured the many facets of Sri Lanka, as well as Ceylon tea and traditional Sri Lankan dance and music.
Sri Lanka Embassy in Riyadh, in collaboration with the Export Development Board and the Tea Board of Sri Lanka, facilitated the participation of 12 Sri Lankan food and beverage exporter companies, for the first time in the 11th Saudi FOODEX - 2024 Exhibition held from recently in Riyadh. Ambassador of Sri Lanka to the Kingdom of Saudi Arabia O.L. Ameer Ajwad, ceremonially unveiled the Sri Lankan pavilion at Saudi FOODEX, which is a premier platform that significantly boosts the economies of the participating nations, by creating new trade opportunities and fostering international business relationships.
Debt Relief Milestone Secures Over USD 17 Billion in Support Amid Ongoing IMF Program.
On the 19th of September 2024, Sri Lanka announced that it has reached Agreements in Principle on the restructuring of approximately USD$ 17.5 billion of external commercial debt (as of end 2023).
In a bid to boost the participation and competitiveness of women entrepreneurs in international trade, the Sri Lanka Export Development Board (EDB) is set to sign a non-financial Memorandum of Understanding (MoU) with the International Trade Centre (ITC) to establish the ITC SheTrades Hub in Sri Lanka.