The Central Bank of Sri Lanka has expressed its readiness to support the government should it decide to ease restrictions on motor vehicle imports. This indication comes in light of Sri Lanka’s stable balance of payments and a current account surplus for the second consecutive year, according to Central Bank Governor Nandalal Weerasinghe in an
Sri Lanka’s consumer price inflation recorded a deflation of 0.8% in the 12 months ending October 2024, with only a 0.3% increase over the past 25 months as the effects of the central bank’s deflationary policy begin to manifest in the balance of payments. The Colombo Consumer Price Index (CPI) declined by 0.5% in October
Sri Lanka’s gross foreign exchange inflows exceeded imports by $757 million in August 2024, according to data released by the Central Bank of Sri Lanka. The total inflows for August stood at $2.411 billion, while imports were recorded at $1.654 billion. These inflows included $1.224 billion from merchandise exports, the highest since August 2022, $577.5
Sri Lanka’s private sector credit expanded by Rs. 60 billion in July 2024, following a Rs. 74 billion rise in June, according to official data. Meanwhile, credit to state-owned enterprises (SOEs) decreased during the same period. In July, banks extended Rs. 82.7 billion in loans to the government, with much of this being interest roll-overs,
Sri Lanka’s balance of payments (BOP) remains in surplus in 2024, but it trails slightly behind the figures from 2023, according to official data. By June 2024, the country recorded a BOP surplus of $1.761 billion, compared to $1.957 billion in the same period the previous year. The surplus, reflecting an improvement in net international