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Dr. Indrajit Coomaraswamy is named Central Bank Governor of the Year, South Asia by Global Capital Markets publication

The Central Bank of Sri Lanka is pleased to announce that Dr. Indrajit Coomaraswamy, Governor Central Bank of Sri Lanka has been named Central Bank Governor of the Year, South Asia, by the popular publication house Global Capital at Global Capital Markets Awards ceremony in Washington DC on 14 October 2017, which coincides with the World Bank-IMF Annual meetings. “GobalCapital is a leading news, opinion and data service for people and institutions working in the international capital markets”

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SL Purchasing Managers’ Index Survey - September 2017

The Manufacturing Sector PMI recorded 59.0 in September which is an increase of 4.6 index points compared to August 2017. This indicates that the Manufacturing activties continued to expand in September 2017 at a higher rate compared to August 2017. This expansion was mainly driven by the increase in the Employment sub-index which recovered from the contraction observed in the previous month with the recruitment of new employees. The production and new orders sub-indices expanded at higher rates in September. The Stock of purchases sub-index increased at a slower rate due to the excess stocks level observed in the previous month. Suppliers’ Delivery Time lengthened, albeit at a slower rate compared to previous month. Overall, all the sub-indices of PMI recorded values above the neutral 50.0 threshold signalling an overall expansion in September 2017. Moreover, the Expectation for activities remain positive for the next three months.

IMF Staff Concludes Visit to Sri Lanka to Discuss Progress of Economic Reform Program

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that,  subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

External Sector Performance - July 2017

Sri Lanka’s external sector continued to improve with increased exports and inflows to the financial account. However, the trade deficit widened in July 2017 compared to the corresponding month of 2016 due to higher import expenditure amid the increase in export earnings. Tourist earnings declined marginally in July while workers’ remittances increased, reversing its declining trend observed in the last four months. Inflows to the financial account continued to strengthen with net inflows to the government securities market, long term loans to the government, receipt of the third tranche of the Extended Fund Facility (EFF) of the International Monetary Fund (IMF), as well as continued portfolio investment inflows to the Colombo Stock Exchange (CSE).