• External Sector Performance - January 2024

    The merchandise trade deficit recorded an expansion in January 2024, mainly due to higher import expenditure.

    With regard to services trade, notable inflows were observed in January 2024 into sea transport, air transport, and computer and IT/BPO related services compared to January 2023. Meanwhile, major outflows were recorded in the form of air transport, sea transport, and management and consulting services.

    Workers’ remittances recorded an improvement in January 2024, compared to the corresponding period of the previous year.

    Earnings from tourism recorded the highest monthly value in January 2024 since January 2020.

    Foreign investments in the government securities market recorded a net outflow in January 2024.

  • CCPI based headline inflation decelerated in February 2024

    Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decelerated to 5.9% in February 2024 from 6.4% in January 2024. This deceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL).

    Food inflation (Y-o-Y) accelerated to 3.5% in February 2024 from 3.3% in January 2024, whereas Non-Food inflation (Y-o-Y) decelerated to 7.0% in February 2024 from 7.9% in January 2024. Monthly change of CCPI recorded -0.05% in February 2024 due to the combined effect of price decreases of 0.67% observed in the items of Food category and price increases of 0.62% observed in the items of Non-Food category. Meanwhile, core inflation (Y-o-Y), which reflects the underlying inflation trends in the economy, accelerated to 2.8% in February 2024 from 2.2% in January 2024.

  • SL Purchasing Managers’ Index (PMI) for Construction Industry – January 2024

    Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) indicates an expansion in construction activities in January 2024, as reflected by the Total Activity Index, which recorded an index value of 52.9. This marks the first time that the index exceeded the neutral threshold since January 2022. Many respondents mentioned that new construction work is gradually becoming available, while some suspended projects also recommenced on a limited scale during the month.

  • Clarification by CBSL on Salary Hike

    Central Bank of Sri Lanka (CBSL) has taken note of recent news reports in the media on comments and remarks attributed to some Members of Parliament at recent proceedings of the House with regard to the latest revision of remuneration of employees of the CBSL that were approved by the Governing Board under the triennial Collective Agreement entered into with the Trade Unions covering the period 2024- 2026. 

  • Land Valuation Indicator – Second Half of 2023

    Land Valuation Indicator (LVI) for Colombo District indicated a slowdown on a year-on-year basis, recording a growth rate of 7.1 per cent during the second half of 2023. This slowdown could be observed in all sub-indicators of LVI, namely Residential, Commercial and Industrial LVIs which recorded annual increases of 8.8 per cent, 6.7 per cent and 5.9 per cent, respectively. LVI indicated a deceleration on semi-annual basis as well registering a moderate growth of 2.1 per cent during the second half of 2023, compared to the first half of 2023. This deceleration was largely attributable to the slower increase in Industrial LVI followed by Commercial and Residential LVIs compared to the first half of 2023.

  • Administrative Penalties imposed by the Financial Intelligence Unit (FIU) on Financial Institutions from 27 September to 31 December 2023

    By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliances with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of the relevant non-compliances.

    Accordingly, as Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the FIU collected penalties as indicated below, amounting to Rs. 14 million in total from 27 September to 31 December 2023 to enforce compliance on Financial Institutions. The money collected as penalties were credited to the Consolidated Fund.

  • Financial Intelligence Unit of Sri Lanka entered into a Memorandum of Understanding with the Excise Department of Sri Lanka

    In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Excise Department of Sri Lanka on January 09, 2024 at the Central Bank of Sri Lanka (CBSL) to exchange information related to investigations and prosecutions of money laundering, terrorist financing and other related crimes.

    Mr. J M S N Jayasinghe, Commissioner General of Excise and Mrs. E H Mohotty, then Director, FIU signed the MOU on behalf of the respective institutions in the presence of Dr. P Nandalal Weerasinghe, the Governor of the CBSL, who is also the Chairman of the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) National Coordinating Committee.

  • The Central Bank of Sri Lanka releases the Monetary Policy Report - February 2024

    The Central Bank of Sri Lanka released the Monetary Policy Report - February 2024 today (15.02.2024) in keeping with the requirements of the Central Bank of Sri Lanka Act, No. 16 of 2023. The content of this Report is mainly based on information that was considered by the Monetary Policy Board of the Central Bank of Sri Lanka in formulating the monetary policy decision during the January 2024 review.

  • Sri Lanka Purchasing Managers’ Index (Manufacturing and Services) - January 2024

    Purchasing Managers’ Indices indicate an expansion in manufacturing and services activities in January 2024.

    Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 55.6 in January 2024, indicating an expansion in manufacturing activities.

    Sri Lanka Purchasing Managers’ Index for Services (PMI – Services) indicated an expansion in services activities in January 2024 as reflected by the Business Activity Index, which recorded an index value of 60.1.

  • Appointment of Two New Members to the Governing Board of the Central Bank of Sri Lanka

    In terms of the provisions of the Central Bank of Sri Lanka (CBSL) Act, No. 16 of 2023, the Governing Board (GB) of the CBSL has been established as the body responsible for overseeing the administration and management of the affairs of the CBSL and determination of the general policies of the CBSL.

    Governing Board

    The GB comprises the Governor of the CBSL, Dr. P Nandalal Weerasinghe, who serves as the Chairman of the GB, Mr. A N Fonseka (Appointed Member of the Monetary Board of the CBSL since 27.07.2022 who continued to serve as a Member of the GB), Dr. Ravi Ratnayake (appointed on 21.09.2023), Mr. Anushka S Wijesinha (appointed on 21.09.2023) and Mr. Vish Govindasamy (appointed on 26.10.2023).

    Further, we hereby announce the appointments of Mr. Rajeev Amarasuriya and Mr. Manil Jayesinghe to the GB. The profiles of the newly appointed members are as follows:

Pages

more

About

More Services

Useful Sites

Follow Us