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. 

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.