Giant tidal waves will shave off half a percentage of Sri Lanka’s growth in 2005, Central Bank says

Over 28,000 dead, tens and thousands missing, and a US$ 1 bn reconstruction bill, but tsunami stricken Sri Lanka is confident of bouncing back with a 0.5 percent drop in gross domestic product next year. Over 28,000 dead, tens and thousands missing, and a US$ 1 bn reconstruction bill, but tsunami stricken Sri Lanka is confident of bouncing back with a 0.5 percent drop in gross domestic product next year. The island nation's precarious balance of payments is still on track for a US$ 100 mn surplus, from a US$ 200 mn deficit in 2004, the Central Bank said Friday.

"Whatever, outflows we expect due to reconstruction activities in the south and east, the goodwill of donors to rebuild these areas will negate the impact," the bank's Senior Deputy Governor, W A Wijewardene said.

Up & Up

Sri Lanka's consumer price index moved up 7.6 percent year on year in December, up from