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SAARCFINANCE Group Meeting and SAARCFINANCE Governors’ Symposium held in Colombo on 12 July 2017

The Central Bank of Sri Lanka hosted the 34th SAARCFINANCE Group Meeting and SAARCFINANCE Governors’ Symposium in Colombo on 12 July 2017. The 34th SAARCFINANCE Group Meeting was attended by Governors and Finance Secretaries and other delegates from the Central Banks and Ministries of Finance in the SAARC region.

Following the SAARCFINANCE Group Meeting, the SAARCFINANCE Governors’ Symposium, themed “Challenges for the SAARC region amidst Global Uncertainties and Possible Policy Measures to Mitigate these Risks”, was held at the John Exter International Conference Hall of the Central Bank of Sri Lanka. Governor of Central Bank of Sri Lanka Dr. Indrajit Coomaraswamy delivered the keynote speech at the Symposium. Each SAARC country made a presentation, highlighting the impact of global uncertainties on their economies and possible policy measures to mitigate these risks. The preliminary results of the SAARCFINANCE collaborative research study on “Financial Inclusion in the SAARC Region” were also presented at the Symposium.

20th Annual Meeting of the Asia/Pacific Group on Money Laundering in Colombo, Sri Lanka during July 17-21, 2017

The 20th Annual Meeting of the Asia/Pacific Group on Money Laundering will be held in Colombo during July 17-21, 2017 with the participation of about 450 local and foreign delegates from 41 member countries and several international observer organisations. This event will be graced by His Excellency the President Maithripala Sirisena as the Chief Guest.

A Commemorative Coin to Celebrate 150 Anniversary of Ceylon Tea

The Central Bank of Sri Lanka (CBSL) issued a commemorative coin with a face value of Rs. 10 to celebrate 150 years of Ceylon Tea and to recognize its contribution to the national economy as an important and long-standing export oriented commodity in Sri Lanka.

The first set of coins were officially presented to the Hon. Minister of Finance, Mr. Mangala Samaraweera and Hon. Minister of Plantation Industries, Mr. Navin Dissanayake by Dr. Indrajit Coomaraswamy, Governor of CBSL, at the ceremony held at CBSL on 12.07.2017.

The coin will be issued into circulation from 13.07.2017 through licensed commercial banks and can be used for payments amongst other currency notes and coins in circulation.

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External Sector Performance - April 2017

Sri Lanka’s external sector displayed a mixed performance in April 2017. Although export earnings increased in April 2017, the higher growth in import expenditure resulted in an expansion of the trade deficit. Despite the increase in tourist earnings in April 2017, the decline in workers’ remittances together with the expanded trade deficit moderated the performance of the external current account. However, the financial account of the Balance of Payments (BOP) was supported by continued foreign inflows to the Colombo Stock Exchange (CSE) and the government securities market in April 2017.

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