SenFin Research – News Updates – 23 March 2026

Sri Lanka maintains growth momentum amid volatile global and domestic indicators
Sri Lanka’s economy continued to demonstrate resilience in 2025, recording a steady growth rate of 5.0%, supported by contributions from all key sectors.
Source: (Daily News) https://dailynews.lk/2026/03/23/business/970679/sri-lanka-maintains-growth-momentum-amid-volatile-global-and-domestic-indicators/

Cautionary projection: IMF highlights Sri Lanka’s resilience, warns of ME risks
The International Monetary Fund (IMF) in its recent address noted Sri Lanka’s economic reform programme has made “very significant progress,” with strong growth, low inflation and improving external indicators, despite recent shocks.
Source: (the morning) https://www.themorning.lk/articles/uWbhDpxMxul6aQ7qJ7qs

Economic stability: SL remains resilient amid the ongoing economic crisis
Sri Lanka is expected to remain resilient amid the ongoing economic crisis by maintaining inflation at a low level, despite the possible threats posed by rising fuel prices, Deputy Minister of Finance and Planning Prof. Anil Jayantha Fernando said on Friday (20).
Source: (the morning) https://www.themorning.lk/articles/jNO2gGz6VbQky63oaUpI

Primary surplus surges 170% as Budget deficit narrows sharply in 2025: CBSL
Sri Lanka’s fiscal position strengthened in 2025, with a sharp rise in the primary surplus and a significant narrowing of the overall budget deficit, according to data from the Central Bank of Sri Lanka (CBSL).
Source: (Daily FT) https://www.ft.lk/front-page/Primary-surplus-surges-170-as-Budget-deficit-narrows-sharply-in-2025-CBSL/44-789937

Bilateral trade: SL-Brazil agree to boost trade to $ 1 b by 2030
In a recent engagement between the Sri Lankan and Brazilian governments, both parties agreed to increase bilateral trade between the nations to $ 1 billion by 2030, acknowledging the steady growth in economic cooperation in the two nation’s past. Both countries also emphasised the importance of broadening engagement in response to evolving global economic dynamics.
Source: (the morning) https://www.themorning.lk/articles/D4LAdOpTalqKKQlpUyQ5

Fuel prices rise across CPC, Sinopec and LIOC
Fuel prices were increased across suppliers following the latest revision by the Ceylon Petroleum Corporation (CPC), which came into effect from midnight on 21 March, with Sinopec and Lanka IOC (LIOC) also adjusting prices.
Source: (Daily FT) https://www.ft.lk/front-page/Fuel-prices-rise-across-CPC-Sinopec-and-LIOC/44-789939

Sri Lanka says no plans for power cuts; urges to use electricity sparingly
Sri Lankan government has no plans for a power cut in the near future due to ongoing shortage of fuel, but asked the public to use electricity sparingly
Source: (economynext) https://economynext.com/sri-lanka-says-no-plans-for-power-cuts-urges-to-use-electricity-sparingly-264764/

Uber and PickMe urge Govt. to allocate higher fuel quotas
Uber and PickMe, have urged the Government for support to keep Sri Lanka moving in light of the latest fuel constraints. Highlighting the critical role played by ride-hailing and delivery platforms in helping people access transport, food and essential services, the platforms have jointly asked for higher fuel quotas for their most engaged driver and delivery partners.
Source: (Daily FT) https://www.ft.lk/business/Uber-and-PickMe-urge-Govt-to-allocate-higher-fuel-quotas/34-789924

Fuel price increase in May could be unbearable: Minister warns
If the ongoing war situation does not come under control in the coming weeks, there would be a fuel price increase that cannot be borne in the next fuel price revision, Cabinet spokesman and Minister Nalinda Jayatissa warned.
Source: (Daily Mirror) https://www.dailymirror.lk/breaking-news/Fuel-price-increase-in-May-could-Be-unbearable-Minister-warns/108-336021

Govt. losing Rs. 20 b monthly on fuel subsidy: Cabinet Spokesman
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday said the Government is absorbing Rs. 20 billion a month to cushion the impact of sharply higher fuel prices, even after raising pump rates to levels last seen during the 2022 economic crisis, to shield consumers while preventing renewed pressure on currency and foreign reserves.
Source: (Daily FT) https://www.ft.lk/front-page/Govt-losing-Rs-20-b-monthly-on-fuel-subsidy-Cabinet-Spokesman/44-789934

Container transport charges up 20%
The Container Transport Owners’ Association (CTOA) has decided to increase container transport charges by 20% from last midnight, citing the recent fuel price hike.
Source: (Daily FT) https://www.ft.lk/front-page/Container-transport-charges-up-20/44-789932

Nearly 40% of local imports hit by global price shocks: IPS warns
Nearly two-fifths of the country’s import basket is directly exposed to global commodity price shocks, underscoring the economy’s vulnerability to external supply disruptions, research from the Institute of Policy Studies of Sri Lanka (IPS) highlighted.
Source: (Daily Mirror) https://www.dailymirror.lk/business-news/Nearly-40-of-local-imports-hit-by-global-price-shocks-IPS-warns/273-336037

Sri Lanka’s seabed may hold 3 TCF gas, several billion barrels oil
Sri Lanka is estimated to have up to three trillion cubic feet of natural gas in its offshore reserves, according to an interview published by The Sunday Morning.
Source: (Newswire) https://www.newswire.lk/2026/03/23/sri-lankas-seabed-may-hold-3-tcf-gas-7-billion-barrels-oil/

Alternative hub: Sri Lanka proposes Mattala to Emirates and Qatar Airways
The Sri Lankan Government has initiated preliminary discussions with both Emirates and Qatar Airways, with the intent of offering Sri Lanka’s Mattala Rajapaksa International Airport (HRI) as an alternative hub for the foreseeable future.
Source: (the morning) https://www.themorning.lk/articles/AXhTYil0spSRbhVgONxa

Debt path at risk due to Mideast war impact as reserves target jumps to $ 13.4 b by 2027: Rafi
Economist Talal Rafi has said the Middle East crisis could complicate Sri Lanka’s debt sustainability path, as the country faces a sharp increase in external buffer targets under the International Monetary Fund (IMF) program.
Source: (Daily FT) https://www.ft.lk/front-page/Debt-path-at-risk-due-to-Mideast-war-impact-as-reserves-target-jumps-to-13-4-b-by-2027-Rafi/44-789938

Top 30% income cohort consumes 70% of fuel: Advocata CEO
Advocata Institute Chief Executive Officer Dhananath Fernando said Sri Lanka’s fuel consumption is heavily skewed, with the top 30% income cohort consuming 70% of fuel, pointing to the need for price-based adjustments rather than relying solely on rationing.
Source: (Daily FT) https://www.ft.lk/top-story/Top-30-income-cohort-consumes-70-of-fuel-Advocata-CEO/26-789940

Prolonged Iran conflict to ripple through corporate sectors globally: Fitch Ratings
A prolonged Iran conflict could affect multiple corporate sectors worldwide, primarily through higher hydrocarbon prices, supply-chain disruption, and indirectly through weaker demand due to falling consumer confidence and higher interest rates, and a delayed recovery from the cyclical troughs, Fitch Ratings says.
Source: (economynext) https://economynext.com/prolonged-iran-conflict-to-ripple-through-corporate-sectors-globally-fitch-ratings-264774/

Oil stabilises as investors weigh US, Iran threats to facilities, sanctions lift
Oil prices were little moved on Monday as ‌investors weighed U.S. and Iranian threats to target energy facilities that could escalate the war against the release of millions of barrels of Iranian oil at sea to global markets after Washington lifted sanctions.
Source: (Reuters) https://www.reuters.com/business/energy/oil-prices-rise-after-us-iran-threaten-hit-energy-targets-middle-east-2026-03-22/

Secondary Bond market sentiment turns bearish; yields spike
The secondary Bond market last week turned bearish, with yields trending higher across the curve, driven by intensifying external shocks.
Source: (Daily FT) https://www.ft.lk/financial-services/Secondary-Bond-market-sentiment-turns-bearish-yields-spike/42-789912

Sovereign bonds and currency: Sri Lanka, Pakistan face 'toughest trade’
Though the ongoing conflict in the Middle East is yet to show a significant impact on global projected growth, frontier markets like Sri Lanka face a challenging trading environment as they navigate an uncertain transition between inflationary shock and demand destruction, said PIMCO Emerging Market Portfolio Manager Yacov Arnopolin, speaking to Bloomberg television on Friday
Source: (the morning) https://www.themorning.lk/articles/UrXu6iQhC1zL71iJd6Dl

Siyapatha Finance Rs. 3.75 b debenture issue oversubscribed
Siyapatha Finance PLC said its debenture issue had been oversubscribed, with applications received exceeding the targeted Rs. 3.75 billion, prompting the company to close the offer last Friday.
Source: (Daily FT) https://www.ft.lk/financial-services/Siyapatha-Finance-Rs-3-75-b-debenture-issue-oversubscribed/42-789918

NDB’s GSS+ Bond issuance breaks new ground with record Rs. 16 b raised
National Development Bank PLC (NDB) commemorated raising Rs. 16 billion with its first ever issuance of BASEL III compliant GSS+ (Green, Social, Sustainable and Sustainability Linked) bonds and the country’s largest issuance of GSS+ bonds to date by way of a market opening ceremony conducted on the trading floor of the Colombo Stock Exchange (CSE) on Friday.
Source: (Daily FT) https://www.ft.lk/financial-services/NDB-s-GSS-Bond-issuance-breaks-new-ground-with-record-Rs-16-b-raised/42-789917

People’s Bank completes Rs. 25 Bn debenture issue
People’s Bank has reached a significant milestone with the successful completion of Sri Lanka’s largest debenture issue, mobilizing Rs. 25 billion through a Basel III compliant, Tier 2, Unlisted, Rated, Unsecured, Subordinated, Redeemable Debenture.
Source: (Daily News) https://dailynews.lk/2026/03/23/business/970682/peoples-bank-completes-rs-25-bn-debenture-issue/