Category: Economy
‘s internally displaced: cabinet
July 08, 2016 (LBO) – Sri Lanka will set up a task force for the resettlement of “Protracted Internally Displaced Persons” in the Northern Province, a cabinet statement for this week said. “IDPs were seen since the 1980s due to the conflict situation. These include Tamil as well as Sinhala and Muslim families in the […]
Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K
July 07, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake told Parliament Thursday that the country has seen an upward movement in foreign reserves after Brexit. Finance Minister pointed out that the country now has reserves sufficient for 4 months of imports. “We can see that there is an advantage in Brexit to Sri […]
Fed delays rate hike expectations over Brexit
July 07, 2016 (LBO) – The U.S. Federal Reserve has expressed reservations about hiking interest rates again, given an uncertain economic outlook tied to the Brexit, according to minutes released of the June meeting. Fed governor Daniel Tarullo said Wednesday the central bank should wait for more convincing evidence that inflation is closer to the […]
CB Governor’s appointment for 6 year term, Dep Governor clarifies
July 06, 2016 (LBO) – Deputy Governor of Sri Lanka’s Central Bank P Samarasiri clarifying media reports said the tenor of the new Governor is 6 years except under certain instances. Samarasiri said the Monetary Law Act does not provide for interim appointments for a Central Bank Governor, speaking during a media conference on Tuesday. […]
No urgent need to adjust Sri Lanka interest rates: CB Governor
July 06, 2016 (LBO) – Sri Lanka’s newly appointed Central Bank Governor Indrajit Coomaraswamy says the monetary authority is closely watching interest rates, and the transmission impact of previous tightening takes 12 to 18 months. “We still haven’t seen the full effects of what has already been done,” he told reporters on Tuesday. “The slight […]
Speaker to consult Attorney General, CB Governor over bond report
July 05, 2016 (LBO) – Speaker Karu Jayasuriya has decided to consult Sri Lanka’s Attorney General and new Central Bank Governor over the course of action to take on the Auditor General’s report on Treasury bond auctions. “I’ll look forward to discuss the future course of action over the bond report with them while also […]
New Central Bank Governor says upholding institution his primary duty
July 04, 2016 (LBO) – Sri Lanka’s newly appointed Central Bank Governor Dr. Indrajit Coomaraswamy says upholding the reputation and credibility of the institution will be his primary responsibility. He said this giving an inaugural address to the staff of the Central Bank. “The Central Bank of Sri Lanka is one of the great institutions […]
Sri Lanka’s President appoints Dr. Indrajit Coomaraswamy as Governor of Central Bank
July 02, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Dr. Indrajit Coomaraswamy as the new Governor of the Central Bank of Sri Lanka. Dr. Coomaraswamy will assume duties as the Governor of Central Bank on Monday. This is what President posted on his official twitter profile today morning. After consulting all parties […]
Sri Lanka exports drop 11.2-pct in March, trade gap widens
July 01, 2016 (LBO) – Sri Lanka’s exports fell a faster 11.2 percent to 945.4 million US dollars in March 2016 while imports fell at a slower 0.9 percent widening the trade gap, Central Bank data showed. The largest contribution for exports decline came from transport equipment followed by exports of spices. Earnings from transport […]
Sri Lanka faces huge debt service requirements by July & Sept
July 01, 2016 (LBO) – Sri Lanka’s external debt service requirements are expected to be relatively larger in July and September of this year as per the estimates for the remaining period, the Finance Ministry said. Releasing the mid-year fiscal position report, the ministry said the total estimated debt service payment for 2016 is 1638.7 […]
‘s CCPI inflation accelerates to 6 pct in June from 4.8 pct in May
July 01, 2016 (LBO) – Sri Lanka’s inflation as measured by Colombo Consumers Price Index (CCPI) accelerated to 6.0 percent in June 2016, up from 4.8 percent, on an year-on-year basis. Inflation for food items increased from 5.6 percent in May to 8.2 percent in June 2016 while nonfood items decreased from 4.2 percent to […]
Charitha Ratwatte to take up Governor position for two months: Source
June 30, 2016 (LBO) – Charitha Ratwatte is expected to take a temporary position as the Governor of the Central Bank of Sri Lanka, a government source told Lanka Business Online. The appointment of the former Treasury Secretary would be for two months, the source added. An official announcement has not been made yet. On […]