Stock Market / Finance in Sri Lanka
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SRI LANKA, 2013/03/19
Sri Lanka's central bank will maintain the flexible exchange rate for the rupee, Governor Ajith Nivard Cabraal said Wednesday.
The central bank intervention will be limited to reducing 'excessive' fluctuations and maintaining external reserves at desired levels, Cabraal said. With result from January 2, 2013, central bank chief said limits on forward market transactions will be relaxed.
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SRI LANKA, 2013/02/14
Microcredit has made major headway under the present government in Bangladesh, with lending increasing 70 % in the last four years, Prime Minister Sheikh Hasina said on Wednesday.
The total outstanding microcredit stood at 180 billion Bangladeshi taka (US$ 224 million) at the same time as her government took office in 2009, and presently, the figure is 300 billion Bangladeshi taka.
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SRI LANKA, 2012/12/25
Fiscal consolidation efforts as set out in the Budget 2013 were not entirely unexpected. With revenue collection falling short of the target, adjustments to ensure that the deficit for 2012 remains close to the forecast 6.2% of GDP is to be brought about by a sharp cut back in public investment. Indeed, fiscal consolidation efforts appear to be on track with the deficit expected to decline further to 5.8% of GDP in 2013 (Table 1).
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SRI LANKA, 2012/12/12
The Central Bank of Sri Lanka on Wednesday decided to reduce its key policy rates by 25 basis points in view of the possible moderation in economic increase.
The repurchase rate and the reverse repurchase rate were cut to 7.5 % and 9.5 %, respectively, with immediate effect.
The Monetary Board of the central bank as well noted that the credit ceiling imposed for 2012 has served its purpose and such a policy measure may not be required in the near next.
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SRI LANKA, 2011/03/02
“The economy grew at a strong 7¾ % in 2010, according to current estimates. Inflation has increased but this reflects some recent increases in food prices. Credit increase is in line with formerly projections, the property market remains subdued, and other signs of request-driven inflationary pressures are not evident. Against this background, our assessment is that current monetary conditions are appropriate for supporting the economic recovery. Remittance inflows continue at a high rate and reserves remain at comfortable levels, but the trade deficit is widening as imports recover from their sharp decline in 2009. We continue to believe that the exchange rate should retain the flexibility to ensure that reserves remain healthy and that the economy is competitive.
