Tag: Sri Lanka

Jan 21, 2009 (LBO) – Sri Lanka’s central bank says it will persevere with its quantity targeting regime this year but also use other instruments if needed. It is also negotiating currency swaps with other central banks to have greater access to foreign currency. A weakening economic outlook at home and global economic troubles has […]

Jan 20, 2009 (LBO) – The meltdown of the global economic system is not a collapse of capitalism and markets but rather a failure of government, World Bank’s Sri Lanka country director Naoko Ishii said.Ishii said the collapse of banks and falling prices of financial markets have been interpreted by some as a failure of […]

Jan 20, 2009 (LBO) – Sri Lanka is among 25 percent of countries that are poorly equipped to deal with the global financial crisis, and needs fiscal as well as external adjustment to stabilize itself, a World Bank economist said. Claus Astrup, World Bank’s senior country economist in Sri Lanka said about 40 percent of […]

Jan 19, 2009 (LBO) – Sri Lanka’s central bank said it would not apply for an International Monetary Fund (IMF) bailout or devalue the currency but would seek other means to shore up the island’s dwindling foreign reserves. A typical IMF package involves a clean float of the currency to stop further sterilized intervention and […]

Jan 17, 2009 (LBO) – Sri Lankan president Mahinda Rajapaksa has appointed public administration and home affairs minister Sarath Amunugama as deputy minister of finance and planning, the president’s office said in a statement. Amunugama had been finance minister under previous administration and has also been a public servant before he took to politics. Amunugama […]

Jan 16, 2008 (LBO) – Sri Lanka’s tsunami affected tourism sector is to get repayment extensions running up to three years for loans taken up under the ‘Susahana’ and Small Business Revival Program (SBRP) lending schemes, the Central Bank said. Under the relief program, those who took SBRP and Sushana tsunami loans would receive a […]