Category: Economy
Sri Lanka govt in informal consultation with IMF: CB Governor
Dec 31, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that they are examining the possibilities of an International Monetary Fund (IMF) loan facility next year. “Yes we are examining the possibilities and the government are in informal consultation with the IMF,” Mahendran said. “A team is due here for regular discussions […]
Sri Lanka economy grew 5.2 pct in first nine months : CB-Updated
(Updated with Central Bank presentation) Dec 31, 2015 (LBO) -Sri Lanka’s economy grew 5.2 percent during the first nine months of the year compared with 2.4 percent growth during the same period last year, the Central Bank said on Thursday. Strong credit growth to the private sector seeping out as consumption imports was, however, a […]
Sri Lanka Central Bank tightens monetary policy, increases SRR
Dec 30, 2015 (LBO) – Sri Lanka’s Central Bank tightened monetary policy on Wednesday citing concerns over expansion in monetary aggregates fueling inflation. The Monetary Board raised the Statutory Reserve Ratio (SRR) applicable to all rupee deposit liabilities of commercial banks by 1.50 percentage points to 7.50 per cent effective from 16 January. The Standing […]
Dollar gains limited in 2016, fund managers look elsewhere
Dec 29, 2015 (LBO) – US Dollar gains are expected to be limited next year compared with the strengthening seen over the last two years after a well-expected tightening of interest rates by the US Fed this month. The dollar rallied 10 percent to 1.09 per euro this year from 1.2 per euro at the […]
Sri Lanka foreign reserves rise to USD7.3 bln in Nov
Dec 29, 2015 (LBO) – Sri Lanka’s official foreign reserves increased to 7,295 million dollars at the end of November this year, up from 6,480 million dollars at the end of October after a sovereign bond issue, according to figures released by the Central Bank. This included 6,463 million dollars in foreign reserves and 756 […]
Sri Lanka labour force 9 mn, unemployment 5 pct in 3Q: Census Dept
Dec 23, 2015 (LBO) – Sri Lanka’s labour force is about nine million in the third quarter of 2015, of which 64.5 percent are males and 35.5 percent are females, the Department of Census and Statistics said. The Department has released employment, unemployment and labour force statistics based on a sample of about 6,250 housing […]
Sri Lanka’s economic goals can be achieved through addressing brain drain: Eran
Dec 23, 2015 (LBO) – Sri Lanka’s deputy Minister of State Enterprise Development said that internationally exposed management skills of local expatriates are the need of the hour if the island nation is to achieve its expected economic targets in the near future. “Everyone only talks of capital and technology but in my experience it […]
Details on new investment and exports framework in January: Malik
Dec 22, 2015 (LBO) – Sri Lanka will have its first glance of the country’s new investment and export framework as early as next January, a top Cabinet Minister said. The Board of Investment and Export Development Board are slated to become implementing arms of a new, higher level policy and strategy body consisting of […]
Sri Lanka inflation accelerates to 4.8-pct in November
Dec 21, 2015 (LBO) – Sri Lanka’s consumer prices rose 4.8 percent in the 12-months to November from a year earlier, from the 3.0 percent a month earlier, data from the state statistics office showed. Year on year inflation of Food Group has increased from 2.3 percent in October 2015 to 4.6 percent in November […]
Colombo Port will have trouble providing welfare facilities to employees: Minister
Dec 21, 2015 (LBO) – Sri Lanka’s Minister of Port and Shipping Arjuna Ranatunga had yesterday revealed that even though the annual income is 29 billion rupees, the Authority will have difficulties when providing welfare facilities to its employees.“Colombo port receives 29 billion rupees of annual income. However there is a significant portion from the […]
Motor car registrations high at 10,054 in November: JB Securities
Dec 18, 2015 (LBO) – Vehicle registration momentum continued into the month of November due to the pre-Nov 20 budget surge and relaxation of LTV rule, JB Securities said in a research note. Total motor cars registrations recorded 10,054 units in Nov slightly down from 10,349 units in Oct but significantly higher than 2,419 units […]
Sri Lanka cannot expect IMF to come and sort out problems: Razeen Sally
Dec 18, 2015 (LBO) – Sri Lanka might need IMF funds as money flow tightens in the future with global economic complexity but the government cannot expect a bail out by the IMF after acting irresponsibly, Professor Razeen Sally said in a forum held Thursday.“There is a lot of talk, as in the past, about […]