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The IMF has reached a staff-level agreement with Sri Lanka on the seventh review of its $3 billion bailout loan, subject to IMF Executive Board approval and a 2027 budget that conforms to the programme. The article says the budget, due in parliament on November 12, will intensify austerity, including higher living costs and welfare cuts, to secure a $345 million loan instalment. It notes fuel prices were raised four times after February 2026, by about 38–46 percent, and that headline inflation rose to 8 percent in August. The World Bank projects poverty at 15.8 percent in 2026, up from 11.5 percent in 2019, and the article argues official growth figures say little about living conditions for workers and the poor.
- Sri Lanka on Track to Escape Third FATF Grey - Listing , Says Central Bank Chief
Central Bank of Sri Lanka Governor Nandalal Weerasinghe is strongly optimistic that the country will avoid being placed on the FATF grey list for a third consecutive time, as it faces a key international assessment of its anti-financial crime framework. Grey-listing signals deficiencies in anti-money laundering and counter-terrorism financing regimes and can reduce foreign investment, tighten correspondent banking ties and damage reputation. Sri Lanka has been on the list twice before, making the current evaluation especially significant for its economic recovery. The governor said substantial progress has been made in strengthening legal and institutional mechanisms, and regulators believe recent reforms will meet FATF standards. Authorities will keep engaging with FATF evaluators, and the final decision will have major implications for the country's economic and financial path in the coming months.
- Freedom Foot March protesters still outside Presidential Secretariat – Sri Lanka Mirror – Right to Know . Power to Change
A group including Buddhist monks and members of the Maha Sangha, who arrived under the 'Freedom Foot March' campaign demanding the release of Ven. Galagoda Aththe Gnanasara Thera, remains on the road outside the Presidential Secretariat. They arrived there yesterday (Oct. 15) and insisted the government give a clear response on Gnanasara Thera's release. Secretary to the President Dr Nandika Sanath Kumanayake met the Maha Sangha at the site, where the monks asked that Ven. Gnanasara Thera be granted his freedom.
- Apple Closes In On World's Most Valuable Company Crown — iPhone Duo Preorders, China AI Rollout In Focus
Apple (AAPL) reached a market value above $5 trillion, hitting an intraday high of $347.85 and a valuation near $5.1 trillion, becoming only the second company after Nvidia to reach this milestone, while Nvidia (NVDA) fell nearly 6% over the past five sessions amid worries about hotter-than-expected inflation data, neocloud debt and circular financing. Apple will open preorders for the iPhone Duo on Friday, with the foldable phone hitting shelves on Oct. 23, and it also introduced the HomeView smart display, an updated Apple TV 4K and the second-generation HomePod mini. CEO Tim Cook said Apple Intelligence has received regulatory approval in China, with a test version expected later in October, though a broader rollout date is unconfirmed. AAPL is up nearly 27% so far this year versus about 18% for QQQ, and Apple reports fiscal fourth-quarter earnings on November 2.
- US - China blame game over global economy tilts in Beijing favor | National News
Discussions at the IMF and World Bank meetings in Bangkok focused on rising borrowing costs in the US, France and Japan, with US Treasury chief Scott Bessent absent. IMF chief Kristalina Georgieva called advanced economies the 'worst offenders' for large deficits and debt, while Indonesia's finance minister warned that higher borrowing costs would hit ordinary people. China's central bank governor Pan Gongsheng and a PBOC report argued that the US had lost trade competitiveness through excessive fiscal spending and that imbalances are not caused by one side alone. The G20 issued no statement, and Indonesian stocks fell by the most in 28 years after an MSCI downgrade warning.
- China central bank to boost support for global investors in financial markets
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Gartner forecast on October 14 that more than 80% of neoclouds will stop operating independently by 2030, and CoreWeave (CRWV) fell 25% last week. The article argues that hyperscalers funding AI capacity from their own cash flow, led by Amazon and Alphabet, are likely winners as credit tightens for indebted neoclouds. Amazon generated $140 billion of operating cash flow in fiscal 2025, more than covering $132 billion of capex, while CoreWeave's total debt reached $29.8 billion. Since their July 29 closing low, Microsoft, Alphabet and Amazon are up 15.6%, compared with 1.6% for IREN, CoreWeave and Nebius. Hyperscaler earnings in the coming weeks will need to show whether sold-out capacity is turning into results.
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