Subscribe to Central Bank of Sri Lanka RSS

News

Appointment of New Assistant Governors

The Monetary Board, at its meeting held on 31st August 2017 has promoted Mrs. K M A N Daulagala, Mrs. S Gunaratne, Mr. N W G R D Nanayakkara, Mrs. T M J Y P Fernando, Mr. J P R Karunaratne and Mrs. K Gunatilake, six Staff Class Grade IV officers, to the post of Assistant Governor with effect from 31st August 2017. These promotions have been made to ensure the smooth functioning of the Bank by filling the vacuum created in the Assistant Governor position due to promotions and retirements during the period from May 2016 to August 2017.

Mrs. K M A N Daulagala

Deputy Secretary to the Monetary Board as the Assistant Governor in-charge of Finance Department and Staff Services Management Department in addition to her duties as the Deputy Secretary to the Monetary Board.

Release of 'Economic and Social Statistics of Sri Lanka - 2017' Publication

The “Economic and Social Statistics of Sri Lanka – 2017” an annual publication of the Central Bank of Sri Lanka, is now available for public access.

This publication contains economic and social indicators of Sri Lanka in the areas of national accounts, agriculture, industry, external trade and finance, government finance, banking and financial institutions, money and capital markets, prices and wages, population and labour force, transportation, education, health, telecommunication services, climate and selected information on economic and social indicators of other countries.

External Sector Performance - June 2017

Sri Lanka’s external sector showed signs of revival with a significantly improved trade balance and continuous inflows to the government securities market in June 2017. A substantial growth in industrial and agricultural exports and a decline in importation of consumer and intermediate goods resulted in a notable improvement in the trade balance in June 2017. Inflows to the financial account were characterised by steady inflows to the government securities market while foreign investment in the Colombo Stock Exchange (CSE) also remained positive during the month. Other major receipts to the current account remained moderate with the decline in workers’ remittances while tourist earnings recorded a modest growth. The positive developments in the financial account and gradual increase in export proceeds stabilized the foreign exchange market and resulted in an increase in gross official reserves by end June 2017 compared to the beginning of the year.

FULL TEXT

Appointment of a New Deputy Governor

The Monetary Board, with the concurrence of the Hon. Minister of Finance, has promoted Assistant Governor, Mr. C J P Siriwardana to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 19th August 2017.

Mr. C J P Siriwardana has over 31 years of experience in the Central Bank especially in the areas of Economic and Price Stability, Financial System Stability and other Agency Functions carried out by the Central Bank. Prior to the appointment as a Deputy Governor, Mr. Siriwardana held the position of the Assistant Governor in-charge of Public Debt, Information Technology, Legal and Compliance, Macroprudential Surveillance, Human Resources, Policy Review and Monitoring, Payments and Settlement and Risk Management Departments. 

Inflation in July 2017

Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics (DCS), remained unchanged from the previous month at 6.3 per cent in July 2017, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in July 2017.

The change in the NCPI measured on an annual average basis increased marginally from 6.1 per cent in June 2017 to 6.2 per cent in July 2017.

SL Purchasing Managers’ Index Survey - July 2017

The Manufacturing Sector PMI recorded 54.3 in July which is a decrease of 1.8 index points compared to June 2017. This indicates that the manufacturing activities expanded, albeit at a slower rate in July 2017, mainly driven by the decrease in the Stock of purchases sub-index resulting from the usage of excess stock that was built up in the previous month and decrease in the Employment sub-index due to the difficulties in replacing unskilled employees to account for high labour turnover. New orders and Suppliers’ delivery time sub-indices moderated during the month while Production sub-index remained at the same level. However, all the sub-indices of PMI recorded values above the neutral 50.0 threshold signalling an overall expansion in July. Moreover, the Expectation for activities indicates an improvement for the next three months.

Pages