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Monetary Board suspends banks from paying cash dividends and profit repatriation from July
Sri Lanka’s banks have been suspended from declaring cash dividends until the financial statements for the year ended December 2021 are finalised and audited.The measure comes amid the Monetary Board’s move to limit discretionary payments of banks in a bid to ward off potential squeezes on liquidity and capital buffers that could stem from pandemicinduced pressures.
Source: Daily Mirror
SLTDA requests CB to provide new relief for tourism
The battered tourism industry renewed its call for assistance yesterday with the Sri Lanka Tourism Development Authority (SLTDA) urging the Central Bank of Sri Lanka (CBSL) to offer further relief until some form of revival can be witnessed.Responding to the industry’s repeated call for help, SLTDA yesterday stressed the need for new relief measures at the earliest.
Source: Daily Mirror
Moody’s places SL’S Caa1 rating under review for downgrade
Moody’s Investors Service (Moody’s) yesterday placed the Government of Sri Lanka’s Caa1 foreign currency longterm issuer and senior unsecured debt ratings under review for downgrade.The rating agency said the decision to place the ratings under review for downgrade is driven by its assessment that Sri Lanka’s increasingly fragile external liquidity position raises the risk of default.
Sri Lanka’s banks have been suspended from declaring cash dividends until the financial statements for the year ended December 2021 are finalised and audited.The measure comes amid the Monetary Board’s move to limit discretionary payments of banks in a bid to ward off potential squeezes on liquidity and capital buffers that could stem from pandemicinduced pressures.
Source: Daily Mirror
SLTDA requests CB to provide new relief for tourism
The battered tourism industry renewed its call for assistance yesterday with the Sri Lanka Tourism Development Authority (SLTDA) urging the Central Bank of Sri Lanka (CBSL) to offer further relief until some form of revival can be witnessed.Responding to the industry’s repeated call for help, SLTDA yesterday stressed the need for new relief measures at the earliest.
Source: Daily Mirror
Moody’s places SL’S Caa1 rating under review for downgrade
Moody’s Investors Service (Moody’s) yesterday placed the Government of Sri Lanka’s Caa1 foreign currency longterm issuer and senior unsecured debt ratings under review for downgrade.The rating agency said the decision to place the ratings under review for downgrade is driven by its assessment that Sri Lanka’s increasingly fragile external liquidity position raises the risk of default.
