The Monetary Board of the Central Bank of Sri Lanka (CBSL) at its meeting held on 30.05.2019, having considered the continuous failure to comply with directions applicable to primary dealers, acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to suspend NatWealth Securities Limited (NWSL) from carrying on the business and activities of a Primary Dealer for a period of six months with effect from 4.30 p.m. on 31.05.2019.

The CBSL will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the Government Securities market. Action will also be taken to facilitate the handling of the interests of the customers and counterparties of NWSL in an orderly manner.

During the first quarter of 2019, the deficit in the trade account contracted to US dollars 1,661 million from US dollars 2,982 million recorded in the first quarter of 2018, as export earnings increased by 5.6 per cent (year-on-year) while import expenditure declined by 19.3 per cent.

In March 2019, the deficit in the trade account narrowed to US dollars 592 million, compared to US dollars 871 million in March 2018.

The considerable reduction in the trade deficit in March 2019 was due to anotable decline in import expenditure by 12.6 per cent (year-on-year)which was further supported by the increase of exportearnings by 2.6 per cent (year-on-year).