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Foreign Exchange Reserves in Sri Lanka increased to 935708.40 in July of 2012 from 805876.40 in June of 2012, according to a report released by the Central Bank Of Sri Lanka. Historically, from 1975 until 2012, Sri Lanka Foreign Exchange Reserves averaged 132788.44 reaching an all time
Although the Asian region is better prepared for economic turmoil than it was a decade ago, high levels of financial, trade and investment integration with the Western economies ensure that no country is immune to the effects of the Eurozone debt crisis. While most of the European Union (EU) economies struggle to design new austerity measures to ...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
In the last 15 years, the major hospitals invested over Rs. 50 billion by way of total expenditure to increase capacity building within the private healthcare sector by investing in necessary infrastructure, cutting edge technology and continuous development in human capital in the clinical discipline. The centres have created several hundreds of employment opportunities with ...
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
Offers $ 43 b in overall deal which will see Fund’s base doubling to $ 456 b Reuters: China on Monday offered $43 billion to the IMF’s crisis-fighting reserves, rounding off a global push to nearly double the Fund’s war chest to $456 billion to help protect countries from fallout from the euro zone debt ...
The economy grew at 8.3% last year, the highest-ever pace, up from 8.0% in 2010. Per capita income went up from US$ 2,400 to $ 2,836. Fine, but we need to ask two questions: What are the costs incurred? Is this growth sustainable? Before that, a word of caution regarding the interpretation of Gross Domestic ...
Reuters: Fresh from a big victory in raising $430 billion for the International Monetary Fund, Christine Lagarde’s tougher test as head of the global lender will be finding a way to give emerging economies more influence. To do this, the former French finance minister will need to convince the Fund’s dominant powers – the United ...
Reuters: India’s foreign exchange reserves rose to $ 293.141 billion as of 13 April from $ 292.9 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly statistical supplement. Changes in foreign currency assets, expressed in dollar terms, include the effect
and shore up foreign exchange reserves, which had been drained owing largely to ...
ISLAMABAD (Reuters): Pakistan’s foreign exchange reserves rose to $16.51 billion in the week ended 30 March, from $16.44 billion in the previous week, the Central Bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) rose to $ 11.84 billion from $ 11.77 billion a week
The challenges Sri Lanka has to face in its march towards development are manifold. Although the war has ended the wrong political ideologies, the proposals and timetables it created are still in operation. By Government Information Department Additional Director General Chandrapala Liyanage Similarly, various social activity groups and individuals and organisations operating under the advice ...
Parliamentary accountability The Parliament, as the country’s foremost representative institution, has the sole authority over national resources and financial allocations and concurrently has a prominent role to play in fiscal responsibility, the budgetary process, economic development and effective transparent economic and financial management, with a view to assuring sustainable growth an...
DHAKA (Reuters): Bangladesh’s central bank chief urged private sector entrepreneurs on Thursday to seek loans from foreign sources, saying such credit would be cheaper and more readily available. “We have allowed the local corporates to borrow about $600 million (this financial year) from foreign sources,” Governor Atiur Rahman said. “I would really suggest you to ...
Reuters: Sri Lanka's rupee closed a tad firmer on Friday on light inflows from worker remittances and low importer dollar demand a day after the island nation's treasury secretary forecast the currency would strengthen to at least 125, dealers said. The rupee closed at 130.00/130.10 a dollar, edging up from Thursday's close of 130.10/130.30. It ...
Rupee to strengthen to at least 125/dlr-Treasury sec Dealers wary of rupee rebound as CB buys dollars Stock market down; foreign outflow at Rs. 10.4 m Reuters: Sri Lanka’s rupee closed a tad firmer on Thursday after the island nation’s treasury secretary forecast the currency would stabilise at 125 to the dollar, dealers said. An ...
Citizens should make a noise The Central Bank’s former Assistant Governor and its long-time Director of Statistics, Dr. Anila Dias Bandaranaike, at a recently held exporters’ forum, expressed the view that the business community should make it their business to discuss, debate and deliver their views on economic policies being formulated by the country’s policy ...
TOKYO: Japan and 12 other Asian countries will likely agree to double the amount of funds available under a regional currency swap pact amid uncertainty over the European debt crisis, a report said Sunday. Japan, China, South Korea and the 10 members of the Association of Southeast Asian Nations (ASEAN) are to agree to double ...
Reuters: Sri Lanka’s economic growth forecast will be lowered to a range of seven per cent to 7.5 percent due to tighter monetary policy and a rupee depreciation aimed at cutting the trade and current account deficits, the Central Bank said on Monday. Central Bank Chief Economist Swarna Gunaratne also told Reuters the 2011 balance-of-payments ...
SRI LANKA’S fabled post-war window of opportunity seems to be closing, with the Central Bank following the International Monetary Fund (IMF) in reducing growth rates for 2012. But does that mean only gloom awaits Sri Lanka or can we ride out the tide and reach the golden shores? The Central Bank had originally forecast this ...
Reuters: The Central Bank will soon lower its 2012 growth forecast of eight per cent to a figure no lower than seven per cent, owing to tighter monetary policy measures and the depreciation of the rupee, the Bank’s overnor told Reuters on Friday. The bank had originally forecast this year’s growth at eight per cent, ...
Reuters: The International Monetary Fund (IMF) on Monday forecast Sri Lanka’s economic growth would cool to less than 7.5% due to its tighter monetary policy and currency depreciation measures, aimed at cutting the trade and current account deficits. The global lender has withheld the last $800 million left in a $2.6 billion loan program since ...
Tyranny of the international capital markets Dr. Indrajit Coomaraswamy, ex-Central Banker and International Civil Servant, did not mince words when he addressed the country’s exporters last week. The veteran economist, having made an assessment of the risks associated with Sri Lanka’s external sector crisis, warned that the country will have to grapple with “the tyranny ...
Reuters: The rupee rose sharply in early trade on Friday after the Central Bank slashed commercial banks’ net dollar opening positions, but retreated to close at marginally stronger. The rupee touched 119.00 a dollar, a gain of 2.8 per cent from Thursday’s close of 122.25/40, in early trading after the Central Bank’s order boosted dollar ...
Reuters: Sri Lanka’s rupee ended weaker on Wednesday on importer dollar demand, as traders shrugged off Central Bank intervention signals and rating agencies warned the sovereign rating may be at risk due to a potential balance-of-payments problem. The rupee closed at 121.80/122.00 to the dollar, against Tuesday’s close of 121.40/60, on importer dollar demand in ...
CB says will intervene in high volatility Dealers say CB employing moral suasion By Shihar Aneez and Ranga Sirilal COLOMBO (Reuters): Sri Lanka’s rupee hit a new record low on Tuesday on importer dollar demand, but a State bank sold greenbacks to reverse the drop in an apparent break with the Central Bank’s new policy ...
Sri Lanka may remove a 10 per cent price trading limit on some stocks listed on the Colombo Stock Exchange, according to its Chief Executive Officer. The Bourse planned to introduce a “transparent, Sri Lanka-centric” volatility management mechanism, CEO Surekha Sellahewa said yesterday, without giving a timeframe. Stocks identified using a formula designed by the ...
Reuters: China will continue to invest in euro zone government debt, the country’s central bank governor said on Wednesday, while calling on Europeans to produce more attractive investment products for China. Zhou Xiaochuan admitted that China and other emerging nations like Brazil, Russia or India were waiting for the right time to help the bloc, ...
(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...