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Opening of Bank Accounts for the Disaster Relief Fund of the Government of Sri Lanka

The Government of Sri Lanka has opened the following bank accounts at Sampath Bank PLC to facilitate collection of donations from both Sri Lankans and foreign philanthropists to provide relief to victims of floods and landslides which occurred in May 2016.

Monetary Policy Review - May 2016

The year-on-year growth of broad money (M2b) indicated some deceleration, recording 18.9 per cent in March 2016, compared to 19.8 per cent in February 2016. The expansion in domestic credit remained the key driver of broad money growth, within which credit extended to the private sector by commercial banks recorded a year-on-year growth of 27.7 per cent in March 2016, compared to 26.5 per cent in the previous month. With regard to sectoral distribution of credit, Industry and Services sectors attracted the highest levels of credit disbursements, while personal loans and advances also recorded a substantial increase.

External Sector Performance - January 2016

Sri Lanka’s external sector showed a modest performance during the month of January 2016. The trade deficit narrowed in January 2016 while foreign currency inflows in the form of tourist earnings recorded a relatively high growth and inflows from workers’ remittances also improved. The trade deficit narrowed on account of the higher decline in import expenditure mainly due to the drop in fuel, vehicle and rice imports, compared to the decline in earnings from exports during January 2016. However, the government securities market and the Colombo Stock Exchange recorded net outflows during the period.

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