• Announcement of The Six-Month Road Map for Ensuring Macroeconomic and Financial System Stability

    The Governor of the Central Bank of Sri Lanka (CBSL), Mr. Ajith Nivard Cabraal, will be unveiling ‘The Six-Month Road Map for Ensuring Macroeconomic and Financial System Stability’ on Friday, 01 October 2021. The event will be held at the Atrium of the CBSL and the proceedings will commence at 10.00 a.m.

    Due to the prevailing COVID-19 pandemic situation and in keeping with required social distancing, participation would be strictly limited to invitees. However, the presentation by the Governor will be livestreamed on YouTube and Facebook.

  • The Significance of Repatriation and Conversion of Export Proceeds for External Sector Stability and Overall Financial System Stability

    Sri Lanka’s merchandise export sector has shown a notable improvement in 2021 compared to the pandemic-affected 2020. As per the latest Customs data, export earnings have averaged US dollars 985 million during the eight months ending August 2021 compared to a monthly average of US dollars 837 million in 2020, while the average earnings have amounted to US dollars 1,064 million during June-August 2021. This is an appreciable development as the merchandise export sector (comprising diverse products) is the largest foreign exchange earner in most countries, including Sri Lanka.

  • Meeting between the Governor of the Central Bank of Sri Lanka (CBSL) and Bangladesh High Commissioner to Sri Lanka

    The Governor of the Central Bank of Sri Lanka, Mr. Ajith Nivard Cabraal met with Bangladesh High Commissioner to Sri Lanka, His Excellency Tareq Md Ariful Islam today, to discuss strengthening of economic ties and greater utilization of the Colombo Port for Bangladesh exports.

  • Government of Sri Lanka has extended the deadline for Request for Proposals (RFPs) for the Foreign Currency Term Financing Facility

    Ministry of Finance (MoF) has extended the closing date for the submission of Request for Proposals (RFP) for the Foreign Currency Term Financing Facility for the Government of Sri Lanka 2021. The links in the MoF website and the External Resources Department (ERD) website are as follows:

  • NCPI based Inflation decreased in August 2021

    Headline inflation, as measured by the year-onyear (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100), decreased marginally to 6.7 per cent in August 2021 from 6.8 per cent in July 2021. This decline was entirely due to the statistical effect of the high base prevailed in August 2020. Meanwhile, Food inflation (Y-o-Y) increased marginally to 11.1 per cent in August 2021 from 11.0 per cent in July 2021, while Non-Food inflation (Y-o-Y) decreased to 3.0 per cent in August 2021 from 3.2 per cent in July 2021.

    The NCPI, measured on an annual average basis, increased marginally to 5.5 per cent in August 2021 from at 5.4 per cent in July 2021.

  • Appointment of new Secretary to the Monetary Board of the Central Bank of Sri Lanka

    The Central Bank of Sri Lanka (CBSL) is pleased to announce the appointment of Assistant Governor (AG) J P R Karunaratne as the Secretary to the Monetary Board (SMB) with effect from 15th September 2021.

    AG J P R Karunaratne holds a Master of Commerce Degree in Finance from the University of New South Wales, Australia and a Postgraduate Diploma in Applied Statistics and a Bachelor of Science (Physical Science) Degree from the University of Colombo. He is a Fellow Member of the Chartered Institute of Management Accountants, UK and an Associate Member of the Certified Management Accountants (CMA) of Sri Lanka.

  • Sri Lanka Purchasing Managers’ Index - August 2021

    Purchasing Managers' Indices for both Manufacturing and Services activities contracted in August 2021.

    The resurgence of the COVID-19 pandemic in August 2021 has slowed down the manufacturing activities in the country.

    Services PMI dropped to an index value of 46.2 in August 2021 with the restrictions imposed to contain the further spread of the COVID-19.

  • Mr. Ajith Nivard Cabraal Takes Office as the Governor of the Central Bank of Sri Lanka

    Mr. Ajith Nivard Cabraal assumed duties as the 16th Governor of the Central Bank of Sri Lanka on Wednesday, the 15th of September 2021 in Colombo. His appointment was made by His Excellency the President of the Democratic Socialist Republic of Sri Lanka Gotabaya Rajapaksa, according to the provisions of the Monetary Law Act No.58 of 1949. Accordingly, Mr. Cabraal will function as the Chairman of the Monetary Board of the Central Bank of Sri Lanka.

  • Initial statement by Governor Ajith Nivard Cabraal upon taking office on the 15th September 2021

    I am extremely privileged to lead the Central Bank once again and deeply humbled by the trust and confidence reposed in me by the President, Prime Minister and Finance Minister to take up this responsibility. I also deeply appreciate the good wishes that I have received from thousands of our countrymen. 

    I will assure all of them that they will not be let down, and the economy will be steered towards continued stability.

    I also look forward to the close cooperation of the wonderful team of persons at the Central Bank as well the support from all stakeholders with whom I will have early consultations. 

  • External Sector Performance - July 2021

    The deficit in the trade account recorded an expansion on a year-on-year basis in July 2021. Earnings from export of goods increased during the month over a year earlier, but expenditure on imports increased at a faster pace, causing the trade deficit to widen for the fifth consecutive month in July 2021. Workers’ remittances declined in July, following the trend observed in June 2021, while earnings from tourism remained at minimal levels. Meanwhile, maintaining the country’s impeccable record of debt service payments, Sri Lanka successfully settled the matured 10-year International Sovereign Bond (ISB) of US dollars 1.0 billion in July 2021. Foreign investment in the government securities market recorded a marginal net inflow, while the Colombo Stock Exchange (CSE) continued to record net outflows during the month.

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