COLOMBO :Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is crucial to taming still-high inflation and restoring economic stability.The island nation of 22 million people, which is trying to clinch a
COLOMBO :Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is crucial to taming still-high inflation and restoring economic stability.
"The Board ... was of the view that the maintenance of the prevailing tight monetary policy stance is imperative to ensure that monetary conditions remain sufficiently tight to rein in inflationary pressures," the Central Bank of Sri Lanka said in a statement. The central bank said tight monetary and fiscal policies will help bring down inflation to desired levels by the end of 2023 and restore price and economic stability over the medium term.
India told the IMF last week that it strongly supports Sri Lanka's debt restructuring plan, a crucial endorsement for Colombo as it tries to secure the four-year $2.9 billion programme with the global lender and bolster its tattered finances.
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Sri Lanka holds rates steady to rein in inflation, as expectedCOLOMBO : Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is critical to reining in inflationary pressures. The Central Bank of Sri Lanka had increased rates by a massive 950 basis points between
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Sri Lanka central bank holds rates, says tight conditions key to taming runaway inflationCOLOMBO : Sri Lanka's central bank held interest rates steady for a third straight meeting on Wednesday, as widely expected, saying the prevailing tight monetary stance is crucial to taming still-high inflation and restoring economic stability.With Sri Lanka's economy in the throes of the worst financial
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Sri Lanka hopeful of completing debt restructuring in six months: Central bank chiefSri Lanka is racing to secure a $3.8 billion bailout from the IMF. Read more at straitstimes.com.
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