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Sri Lanka’s Central Bank has raised its key interest rates to their highest levels in more than 20 years to try to contain inflation that has added to the country’s economic woes. Two weeks ...
The Central Bank of Sri Lanka (abbr. CBSL; Sinhala: ශ්රී ලංකා මහ බැංකුව, romanized: Sri Lanka Maha Bankuwa) is the monetary authority of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA) and in terms of the Central Bank of Sri Lanka Act No. 16 of 2023, the CBSL is a body ...
The Central Bank of Sri Lanka (CBSL) cut the statutory reserve ratio (SRR) by 100 basis points to 5 percent effective March 1, while leaving its two key monetary policy rates steady, saying they ...
Central Bank of Sri Lanka Governor Weligamage Don Lakshman said on Friday he would step down next week at a time when the South Asian island nation's weak foreign exchange reserves have limited ...
The Governor of the Central Bank of Sri Lanka (CBSL) functions as the chief executive of the Sri Lankan central bank. The post is the ex-officio chairperson of the Monetary Board of Central Bank of Sri Lanka. Since its establishment in 1950, the CBSL has been headed by sixteen governors. The governor has two deputies and several assistant ...
A central bank was set up and Sri Lanka became a member of the IMF entering the Bretton Woods system of currency pegs on August 29, 1950. [67] By 1953 exchange controls were tightened with a new law. [68] The economy was then progressively controlled and relaxed in response to foreign exchange crises as monetary and fiscal policies deteriorated.
Housing Development Finance Corporation Bank of Sri Lanka (HDFC) National Savings Bank; Regional Development Bank (Pradheshiya Sanwardhana Bank) Sanasa Development Bank; Sri Lanka Savings Bank; State Mortgage and Investment Bank; Source: Central Bank, September 2020 [2]
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]