Central Bank holds policy interest rates unchanged

Feb 07, 2017 (LBO) – Sri Lanka’s Central Bank held key interest rates unchanged on Tuesday with the expectation that inflation will stabilize at mid-single digits and the economy was responding to stabilization measures.

Credit growth to the private sector by commercial banks remained high at 21.

9 per cent by end 2016, although it has eased from a high of 28.5 percent in July. Foreign reserves were reported at 5.
With this aim, OGP aims to secure concrete commitments from governments to promote transparency, empower citizens, fight corruption and harness cutting edge technologies to strengthen governance. From its initial eight countries, OGP has now grown to 75 participating countries.

The OGP National Action Plan was developed through a consultative process in partnership with relevant ministries, and civil society partners in all provinces of the country. The National Action Plan was drafted by a Joint Working Committee comprising government officials and civil society partners and will be implemented over a period of two years. generic

The Cabinet appointed a National Steering Committee under the Chairmanship of the President, with the participation of the Prime Minister, relevant Cabinet members and members of the Joint Working Committee which will oversee and provide guidance in implementation. generic

Representing Sri Lanka in the OGP Summit in December 2016 in Paris, Foreign Minister Mangala Samaraweera observed the importance of OGP values to build trust in government and highlighted the reforms being undertaken by the Sri Lankan government to uphold the vision of transparent, inclusive and participatory governance.

Embassy of Sri Lanka
Washington D.C.