Sri Lankan government may not pass central bank reform – adviser

Former Central Bank of Sri Lanka governor Ajith Nivard Cabraal

A senior adviser to Sri Lanka’s government has said it may not pass a proposed law that would give the central bank a flexible inflation target. 

The proposed law has been strongly backed by staff reports from the International Monetary Fund, but local media sources say the government may not be willing to pass it. The latest IMF staff report on Sri Lanka, published on November 4, said the draft amendment to the Central Bank Act “will be a milestone reform towards the adoption of flexible

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