Sri Lanka
Sri Lankan central bank names four assistant governors
The appointees include the head of the central banks’ secretariat and the directors of the central bank’s international operations and centre for banking studies
Sri Lankan central bank strikes investment deals with India and China
Central Bank of Sri Lankan governor Ajith Cabraal signs agreements with Indian and Chinese counterparts in effort to ‘diversify reserves management’
Sri Lankan central bank to spend $760,000 lobbying in US
Central bank hires US company to lobby politicians and businesses in effort to prevent ‘adverse publicity’ eroding investor confidence and undermining economic stability
Sri Lanka seeks return of money offered at Indian shrines
Sri Lankan central bank seeks to repatriate estimated 20 tonnes of coins offered as part of religious worship in India
People: Sri Lanka promotes Samarasiri to deputy; Russia picks card system head
Central Bank of Sri Lanka promotes assistant governor Samarasiri to deputy; Russia appoints Vladimir Komlev to head up national payment card operator
Sri Lanka’s Cabraal challenges IMF ‘conventional wisdom’
Governor says IMF’s recommended remedy would not have worked in Sri Lanka; says recent recovery justifies the authorities’ chosen course of action
Sri Lanka overhauls banking sector
Central Bank of Sri Lanka reveals plans to concentrate financial assets in the hands of five banks, and reduce the number of non-bank financial institutions by almost two-thirds
Sri Lankan central bank remodels benchmark rates
Central bank renames its two key interest rates and cuts one of them as money markets normalise and inflation continues to fall
Sri Lanka central bank launches liquidity support scheme
Immediate support granted to licensed financial companies facing liquidity constraints; CBSL may also call for fresh injections of shareholder capital
Central Bank of Sri Lanka launches national electronic payments system
The scheme, which will allow customers to withdraw cash from any ATMs of participating banks, is similar to one announced by the Palestinian Monetary Authority earlier this month
Sri Lankan central bank defends GDP figures
Central bank hits back at accusations of overstated growth figures in latest annual report; insists it follows international best practices
Sri Lanka cuts rates 50bp in defiance of IMF advice
Central bank cuts benchmark interest rate by 50bp to 7% as growth stutters and inflation falls; IMF warned yesterday against ‘further easing of monetary policy in the near term'
Sri Lankan inflation drops one-third in two months
Central bank reveals inflation drop for second successive month; had earlier hinted at rate cut if slide continued
Sri Lankan governor defends economy against stories of ‘economic doom and mismanagement’
Ajith Cabraal says local and foreign stakeholders are being misled over the true state of the Sri Lankan economy; central bank may cut rates if inflation continues to fall
Sri Lankan central bank reveals inflation spike in 2012
Sri Lankan annual report says economic growth, while still strong, fell in 2012 while inflation rose sharply; central bank increased reserves by 15%
Sri Lankan central bank sounds positive note for 2013
Monetary policy review forecasts moderation in inflation and robust economic growth; committee votes to hold repo rate at 7.5% and reverse repo at 9.5%
Restrictions on Sri Lankan banks relaxed
Foreign exchange trading limits on Sri Lanka’s commercial banks relaxed by central bank as country pursues ‘second wave’ of growth
Sri Lankan governor issues 21-point plan for bankers
Ajith Nivard Cabraal gives guidance on how banking operations should be monitored and upgraded throughout 2013
Asian central banks have ‘positive’ record with dual mandates, says former BoT deputy
Bandid Nijathaworn says combined monetary and macro-prudential policy mandates have worked well in Asia; Asean+3 credit guarantee set to boost region’s corporate bond market
Australia and Sri Lanka leave rates on hold
Reserve Bank of Australia and Central Bank of Sri Lanka highlight worsening economic conditions around the world as they announce benchmark rates will remain unchanged
Sri Lankan central bank blasts rating agency assessment
Central bank expresses 'grave concern' over statement from Standard & Poor's regarding state of banking sector in the country; rating agency noted 'very high risk' in institutional framework
IMF funding aids Sri Lanka in building reserves
Central Bank of Sri Lanka notes role IMF loans have played in helping build reserves in the country; latest tranche received on April 2
Sri Lanka objects to ‘highly unwarranted’ downgrade
Central Bank of Sri Lanka unhappy with ratings alterations; issues lengthy statement objecting to the moves
Sri Lanka remembers suicide bomb victims
New memorial unveiled at the Central Bank of Sri Lanka to mark 16th anniversary of bomb attack on the institution; governor says terrorists failed in aim to paralyse economic growth