Sri Lanka
Sri Lanka’s Mahendran cleared of direct involvement in bond scandal
Governor not directly involved with irregularities in treasury bond auction, but tighter supervision of central bank operations is needed, committee finds
CBSL hits back at former deputy over governance
Central Bank of Sri Lanka rubbishes claim its decision to delegate governor's responsibilities to P Samarasiri had no legal basis; former deputy calls for legal challenge of decision
Sri Lankan governor ‘on leave’ during government inquiry
Arjuna Mahendran is taking a period of leave while the government investigates the practices around Treasury bond auctions at the central bank; only appointed in January
Sri Lankan governor takes aim at central bank procedures
Arjuna Mahendran stresses value of ‘credible procedures for decision-making’ and warns the central bank has a ‘long way to go’ in that regard; predecessor faces public scrutiny
Former Sri Lankan governor's passport seized by anti-bribery commission
Ajith Nivard Cabraal, who stepped down on January 9, is ‘prevented from leaving the country' as government cracks down on ‘corruption' under former administration
Sri Lanka governor tenders resignation after new president sworn in
Ajith Nivard Cabraal announces wish to step down midway through term following ‘shock' elections; deputy says reason is to avoid 'conflicts' with finance ministry
Sri Lanka reduces inflation target range by 200bp
The Central Bank of Sri Lanka will aim to keep inflation between 2% and 4% in 2015, after a fall in prices and in some key commodities. From 2016 on, the bank will aim for 3% to 5%
Supreme Court clears Central Bank of Sri Lanka over Greek investment
Sri Lankan governor and monetary board members cleared over investment in Greek government bonds; Supreme Court says investment decisions ‘best left to central bank’
Sri Lankan governor in ‘140-character battle’ with public on Twitter
Ajith Cabraal takes part in a 60-minute Q&A through social media; faces questions on public debt, monetary policy and the central bank’s public relations campaign in the US
PBoC signs $1.63bn swap deal with Central Bank of Sri Lanka
Three-year arrangement between Chinese and Sri Lankan central banks follows deal in August allowing the latter to invest in China's interbank bond market
Sri Lankan central bank names four assistant governors
The appointees include the head of the central banks’ secretariat and the directors of the central bank’s international operations and centre for banking studies
Sri Lankan central bank strikes investment deals with India and China
Central Bank of Sri Lankan governor Ajith Cabraal signs agreements with Indian and Chinese counterparts in effort to ‘diversify reserves management’
Sri Lankan central bank to spend $760,000 lobbying in US
Central bank hires US company to lobby politicians and businesses in effort to prevent ‘adverse publicity’ eroding investor confidence and undermining economic stability
Sri Lanka seeks return of money offered at Indian shrines
Sri Lankan central bank seeks to repatriate estimated 20 tonnes of coins offered as part of religious worship in India
People: Sri Lanka promotes Samarasiri to deputy; Russia picks card system head
Central Bank of Sri Lanka promotes assistant governor Samarasiri to deputy; Russia appoints Vladimir Komlev to head up national payment card operator
Sri Lanka’s Cabraal challenges IMF ‘conventional wisdom’
Governor says IMF’s recommended remedy would not have worked in Sri Lanka; says recent recovery justifies the authorities’ chosen course of action
Sri Lanka overhauls banking sector
Central Bank of Sri Lanka reveals plans to concentrate financial assets in the hands of five banks, and reduce the number of non-bank financial institutions by almost two-thirds
Sri Lankan central bank remodels benchmark rates
Central bank renames its two key interest rates and cuts one of them as money markets normalise and inflation continues to fall
Sri Lanka central bank launches liquidity support scheme
Immediate support granted to licensed financial companies facing liquidity constraints; CBSL may also call for fresh injections of shareholder capital
Central Bank of Sri Lanka launches national electronic payments system
The scheme, which will allow customers to withdraw cash from any ATMs of participating banks, is similar to one announced by the Palestinian Monetary Authority earlier this month
Sri Lankan central bank defends GDP figures
Central bank hits back at accusations of overstated growth figures in latest annual report; insists it follows international best practices
Sri Lanka cuts rates 50bp in defiance of IMF advice
Central bank cuts benchmark interest rate by 50bp to 7% as growth stutters and inflation falls; IMF warned yesterday against ‘further easing of monetary policy in the near term'
Sri Lankan inflation drops one-third in two months
Central bank reveals inflation drop for second successive month; had earlier hinted at rate cut if slide continued
Sri Lankan governor defends economy against stories of ‘economic doom and mismanagement’
Ajith Cabraal says local and foreign stakeholders are being misled over the true state of the Sri Lankan economy; central bank may cut rates if inflation continues to fall