Category: Policy
‘s Central Bank eyes full inflation targeting: Governor
June 20, 2017 (LBO) – Sri Lanka is planning to adopt a full inflation targeting framework probably by next year, Central Bank Governor Indrajit Coomaraswamy said. Delivering the keynote address at the launch of the Oxford Business Group’s 2017 report on Sri Lanka Monday, Coomaraswamy said this step will enhance greater transparency and predictability for […]
Verité wants govt to issue guidelines on e-signatures
May 30, 2017 (LBO) – Sri Lankan research organization Verité has called on the government to issue central guidelines to accelerate the acceptance of e-documents and e-signatures in Sri Lanka. Releasing a research note, Verité said issuing such guidelines, which apply to all government agencies, would be an efficient solution to inaction at the institutional […]
Shangri-La opens luxury paradise apartments for viewing
(PRESS RELEASE) – Colombo’s once static skyline is now in the midst of a vast transformational process and at the forefront of this immense development is Shangri-La, Asia Pacific’s leading luxury hotel, resort and residential group, with its very first mixed development project, One Galle Face. A rendition of the luxury apartment, the ‘New Show […]
COPE should inquire transactions of Templeton fund in Sri Lanka: Harsha
Mar 09, 2017 (LBO) – Sri Lanka’s Committee On Public Enterprises (COPE) should investigate the transactions carried out between the US-based Franklin Templeton Fund and Central Bank in the past, Deputy Foreign Minister Harsha de Silva said. De Silva confirmed to reporters Wednesday that close to 500 million US dollars have been taken out from […]
‘s public sector expanded 39-pct during past decade
Feb 21, 2017 (LBO) – Sri Lanka’s public sector, excluding the semi government sector and three forces, expanded 39 percent in the last ten years, a census conducted by the statistics office showed. Preliminary results of the census show that by last year Sri Lanka’s public sector alone had a workforce of 874,395 which is […]
Sri Lanka to review public sector cadre, redeploy excess
Feb 17, 2017 (LBO) – Sri Lanka will conduct a cadre review to determine the total cadre requirement of the public sector and provincial councils. The review is expected to forecast public sector staff needed for the year 2020 based on the optimum cadre identified for 2017. “In case excess employees are identified at any […]
‘s external situation manageable, but more FDI needed: Governor
Feb 08, 2017 (LBO) – Sri Lanka’s external debt situation is manageable. However, the current challenge is to increase inflows from exports and FDI, Central Bank Governor Indrajit Coomaraswamy said on Wednesday. “The external debt situation, in our view, is manageable. Sri Lanka has never defaulted on a payment. But the challenge for the country […]
CB joins Dept for Registration of Persons against money laundering
Jan 13, 2016 (LBO) – The Financial Intelligence Unit, located at the Central Bank of Sri Lanka, has entered into a memorandum of understanding with the Department for Registration of Persons to receive information in order to facilitate investigations on money laundering and terrorist financing. “Money laundering and terrorist financing are internationally connected financial crimes […]
‘s Central Bank holds interest rates unchanged
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/12/press_20161230eb.pdf”]
Central Bank invites proposals for USD1bn 3-year foreign financing facility
Dec 28, 2016 (LBO) – Sri Lanka’s Central Bank today said the government intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in USD up to a limit of 1 billion dollars in 2017. The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD […]
‘s USD75mn Social Safety Nets Project
Dec 29, 2016 (LBO) – Sri Lanka has signed a 75 million dollar World Bank credit to support the country’s welfare programs. The project includes an integrated system to better manage the selection, administration, and payments to beneficiaries. It will help improve the equity, efficiency and transparency of the social safety net system, a statement […]
Sri Lanka Central Bank most likely to keep rates steady: POLL
Dec 28, 2016 (Reuters) – Sri Lanka’s central bank is most likely to keep its key interest rates steady on Friday, even as some economists expect further tightening to ease pressure on the rupee following the Fed rate hike earlier in the month, a Reuters polls showed. The central bank has already tightened its monetary […]