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External Sector Performance - April 2019

The external sector remained relatively stable in April 2019 supported by a contracting trade deficit.

In April 2019, the deficit in the trade account narrowed to US dollars 797 million from US dollars 999 million in April 2018.

The considerable reduction in the trade deficit in April 2019 was due to the decline in import expenditure by 11 per cent (year-on-year) and a marginal increase of export earnings by 0.4 per cent (year-on-year).

Sri Lanka Purchasing Managers’ Index - May 2019

Manufacturing activities recovered to an index value of 50.7 in May 2019 which is an increase of 9.7 index points, compared to April 2019. The recovery of manufacturing PMI is mainly attributable to the significant increase in Production and New Orders, especially, in manufacturing of textiles, wearing apparels, leather and related products. Increase in production was mainly attributable to the fulfilment of accumulated orders using extra hours of factory operations. Many respondents, especially in textile and apparel sector, highlighted that they had to work extra hours on week days as well as in weekends during the month to clear the backlog of orders.

Central Bank of Sri Lanka Receives Presidential Award for Digital Excellence

The Central Bank of Sri Lanka was awarded with the Presidential Award for Digital Excellence at the launch of the National Digital Roadmap by His Excellency the President Maithripala Sirisena, held in Nelum Pokuna Theatre on 11th June 2019. This was presented to the Central Bank of Sri Lanka in recognition of great service rendered paving the way to the digital economy in the country. This was organized by the Sri Lanka Telecom PLC.

 

Regulatory Action on a Primary Dealer - Pan Asia Banking Corporation PLC

The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of business and activities of the Primary Dealer Unit of Pan Asia Banking Corporation PLC (PABC) for a period of six months with effect from 10.00 a.m. on 15th February 2019, in order to continue the investigations being conducted by the Central Bank of Sri Lanka.

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