Tag: economy

Apr 17, 2013 (LBO) – Sri Lanka’s central bank, an active trader in gold which cut its holdings last year may buy into gold, now that it is falling, Central Bank Governor Nivard Cabraal has said. “Overall, gold prices coming down is giving an opportunity to various central banks across the world to improve on […]

Apr 17, 2013 (LBO) – The global economy will grow 3.3 percent in 2013 with the United States growing 1.9 percent, emerging and developing nations growing 5.3 percent and the Euro area contracting 0.3 percent, the International Monetary Fund has said. “What was until now a two-speed recovery, strong in emerging market and developing economies […]

Apr 17, 2013 (LBO) – Sri Lanka should depend less on foreign capital to bridge a savings investment gap, to make the economy more resilient to external shocks, the Central Bank has said.Sri Lanka had an investment ratio of 30.6 percent of gross domestic product in 2012 but domestic savings were only 17 percent. National […]

Apr 16, 2013 (LBO) – Sri Lanka held policy rates steady amid heavy demand for bank credit from the state but expected economic activity to pick up after state borrowing reduce helped by an electricity tariff hike.“Inflation is expected to remain at these benign levels supported by prudent demand management policies, although the proposed revisions […]

Apr 16, 2013 (LBO) – Sri Lanka’s monetary and fiscal policy is in harmony with both authorities aiming for stability low inflation, and the presence of a Treasury official in the central bank was a not a threat to its independence, officials said.The secretary to the finance ministry is an ex-officio member of the Monetary […]

Apr 15, 2013 (LBO) – Sri Lanka will train students from Burkina Faso and strengthen economic ties, the economic development ministry said following a ministerial delegation from the African nation.Burkina Faso is a member of the UN Human Rights Council. It was among the eight countries that abstained from voting on a UN resolution that […]

Apr 14, 2012 (LBO) – Sri Lanka’s state-run National Water Supply and Drainage Board, has increased provisional operating profits to 3.0 billion rupees in 2012, up from 1.9 billion rupees by raising tariffs and reducing leakages. Non revenue water had fallen from 31.3 percent of the total to 30.7 percent in the Greater Colombo Area, […]

Apr 12, 2013 (LBO) – Sri Lanka’s domestic savings ratio will be boosted if large losses in state enterprises are reduced, Central Bank deputy Governor Nandalal Weerasinghe said. In 2012, Sri Lanka had a domestic savings rate of 17.0 percent of gross domestic product with the central government running a current account deficit (dis-saving) of […]

Apr 10, 2013 (LBO) – Sri Lanka will consider publishing an accurate number for private savings from next year, separating out state enterprises which are lumped together as ‘private’ firms at the moment, officials said.Domestic savings are made up from central government savings, state enterprise and private entities. A deficit in the current account of […]