There have been several media reports recently raising concerns with respect to the Employees’ Provident Fund (EPF).

An internal examination is currently underway under the direction of the Monetary Board on transactions of EPF in Government securities during 2015 and 2016. The law enforcement authorities have also been requested to carry out an external independent investigation into the issuance of Government securities in 2015 and 2016 and related matters, as it involves examining internal operations carried out by the staff of the Central Bank.

With regard to the operations of the EPF, the Monetary Board, during the past six months, has taken several measures to strengthen the decision making process with respect to investments. These serve to safeguard the interests of the members of the EPF.

Sri Lanka’s external sector performance improved in September 2016 with a contraction in the trade deficit and continued growth in tourist earnings. The trade deficit in the month of September narrowed as a result of the increase in export earnings together with a reduction in import expenditure. Although worker’s remittances recorded a marginal decline, earnings from tourism increased during the month in comparison to that of September 2015. Furthermore, foreign investments at the CSE and government securities market as well as the long term loan inflows to the government supported to strengthen the financial account during September 2016.

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