Category: Economy

Jan 04, 2013, (LBO) – Sri Lanka is planning to discuss a loan of up to a billion US dollars if the International Monetary Fund is willing to provide budget support, Treasury Secretary P B Jayasundera said.“We are asking IMF to extend budget support,” Jayasundera told reporters in Colombo. “That money cannot go the central […]

Jan 04, 2012 (LBO) – Sri Lanka is set to charge millions of rupees of taxes on a retrospective basis from owners of pick-up trucks and jeeps who have converted them under existing rules, according to a new cabinet decision.In free countries with strong constitutional guarantees of liberty to citizens, so called ex post facto […]

Jan 03, 2013 (LBO) – Sri Lanka’s Central Bank aims to inflate the economy by about 7.0 percent in 2012 based on a monetary targeting framework where money supply and credit growth is taken into account.Delivering a monetary policy roadmap for 2013 Governor Nivard Cabraal said the Central Bank was will continue to aim for […]

Jan 03, 2013 (LBO) – Sisira Jayasuriya, professor of economics at Monash University, Melbourne will deliver the fifth Gamani Corea Foundation lecture on Thursday January 10 at the Marga Institute in Kotte, organizers said.Jayasuriya’s research and policy advisory activities cover trade, macroeconomic, environmental and food policy issues in developing countries, with a focus on Asia. […]

Jan 03, 2013 (LBO) – Sri Lanka will not accumulate too much foreign reserves, but will maintain an amount that is comfortable for the economy and a deal with the International Monetary Fund is also on the cards, Central Bank Governor Nivard Cabraal said.Sri Lanka would have collected with about 6.8 billion US dollars of […]

Jan 02, 2013 (LBO) – Sri Lanka should cut losses and bank credit taken by Ceylon Petroleum Corporation and Ceylon Electricity Board with better pricing in 2012, Central Bank Governor Nivard Cabraal said.Currency depreciation not only increases the price of energy itself, but also destroys the real value of current salaries and lifetime financial savings. […]

Jan 01, 2013 (LBO) – Sri Lanka’s economy has responded quickly to corrective measures and is looking for stronger growth this year with the budget gap for 2012 on track and the exchange rate strengthening again, Central Bank Governor Nivard Cabraal said. “This is the fastest adjustment period in our history,” Central Bank governor Nivard […]

Dec 31, 2012 (LBO) – Sri Lanka’s central bank has cut its Treasury bill holding with a year-end transfer of profits Governor Nivard Cabraal said, in a move that will help avoid any negative effect on inflation, the exchange rate and foreign reserves. “We knocked off Treasury bills with it (profit transfer),” Cabraal said. A […]

Dec 31, 2012 (LBO) – Sri Lanka’s inflation rose 9. 2 percent to in the 12-months to December 2012 from a year earlier, with the Colombo Consumer Price Index rising 0. 9 percent during the month, the state statistics office said. The statistics office said the food sub group in the index from which heavily […]

Dec 25, 2012 (LBO) – Sri Lanka’s prosperity has increased 4. 1 percent in 2011 improving on two earlier years, according to an index which tracks well-being, economic infrastructure and the business climate, the Central Bank said. The Sri Lanka Prosperity Index has risen 4. 1 percent to 60.6 point in 2011 showing a steady […]