Category: Money
Treasury puts record straight on central government’s outstanding debt
July 01, 2018 (LBO) – Sri Lanka’s General Treasury says former Central Bank Governor Ajith Nivard Cabraal has tried to present a different and distorted viewpoint on the Central Government’s financial statement in an article published recently under the caption “The Government’s Growth Scam”. The full statement issued by Finance Ministry is reproduced below. General Treasury […]
CB Governor defends Deputy Governor from unfounded allegations
June 28, 2018 (LBO) – Central Bank Governor Indrajit Coomaraswamy on Thursday issued a special statement defending his fellow Central Banker Nandalal Weerasinghe. The statement is a reply to former Finance Minister Ravi Karunananyake who has repeated his allegations in the recent days against Senior Deputy Governor of the Central Bank, Dr. Nandalal Weerasinghe. “As […]
Sri Lanka’s outlook remains stable but is conditional on reforms: World Bank
June 28, 2018 (LBO) – World Bank says a challenging domestic political environment has already taken a toll, slowing down some reforms and complicating the stable medium-term outlook and an impending election cycle which will only elevate this risk. World Bank, releasing its June 2018 edition of the Sri Lanka Development Update said the reforms are […]
IMF working paper suggests new Keynesian models for monetary policy decisions
June 26, 2018 (LBO) – An International Monetary Fund (IMF) working paper released yesterday suggested the Central Bank of Sri Lanka use new Keynesian models for monetary policy analysis and forecasting purposes. IMF working paper said small new Keynesian models, which are increasingly used in central banks for monetary policy analysis and forecasting purposes are […]
Sri Lanka rupee hits new record low of 161.00; Stocks down
Jun 18, 2018 (LBO) – Sri Lanka’s stock and money markets got off to a slow start Monday with rupee dropping to a new low of 161.00 against the US dollar while stocks also showed a dip.The rupee opened at around 159.40/90 but by mid day was quoted around 161.00/05 to the US dollars in the […]
‘t tolerate speculation further; if necessary will use all instruments to discipline
Jun 13, 2018 (LBO) – Sri Lanka’s Central Bank Governor warned forex market players saying that if necessary he is ready to use all the instruments they have to discipline the market and the Central Bank is not going to impose an undue burden on the people.Speaking at a recent event, Governor Indrajit Coomaraswamy said […]
New MLA amendments to restrict financing fiscal deficit by Central Bank
June 05, 2018 (LBO) – Sri Lanka’s Central Bank said there will be new legislative amendments to Monetary Law Act (MLA) to restrict financing the fiscal deficit of the government by the Central Bank. Currently, the Central bank has been compelled to purchase Treasury bills in the primary market at times without regard to monetary […]
‘s 4th review; approves USD 252 mn disbursement
June 02, 2018 (LBO) – Executive Board of the IMF has completed the fourth review of Sri Lanka’s economic performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF) arrangement. Completion of this review enables the disbursement of the equivalent of SDR 177.774 million (about US$ 252 million), bringing […]
Central Bank to create intervention rules for foreign exchange market
May 23, 2018 (LBO) – Sri Lanka’s Central Bank is to introduce several rules, the officials need to follow when they are intervening in the foreign exchange market, Central Bank Governor Indrajit Coomaraswamy said. Speaking at a recent event, Coomaraswamy, however, said Central Bank’s intervention in the forex market will only be limited to smooth […]
Sri Lanka Central Bank clarifies on external debt and reserves
May 23, 2018 (LBO) – Sri Lanka’s Central bank issuing a statement has clarified a misleading news item has been disseminated in relation to Sri Lanka’s foreign reserves and external debt servicing. “The contents of the news item portray a misleading picture of the country’s external position,” it said. The full statement follows: External Debt […]
SL – China FTA would result in higher gains for Sri Lankan exports: Study
May 22, 2018 (LBO) – Sri Lanka – China FTA would result in higher gains for Sri Lankan exports compared to products imported from China which are already entering Sri Lanka duty free, a recent study showed. The study carried out by the Economics Research Team of Verité Research, however, noted that the analysis is […]
IMF to complete its 4th review on June 1 as SL introduced fuel price formula
May 18, 2018 (LBO) – IMF Communications Department on Thursday announced that their board is scheduled to discuss Sri Lanka’s completion of its fourth review on June 1. At an IMF press briefing held in Washington, Gerry Rice of the communications department told reporters that the fuel pricing mechanism would benefit Sri Lanka and the […]