Central bank governor briefs parliamentarians

Sri Lanka
By Editor_1
Central Bank chief Nandalal Weerasinghe says Sri Lanka aims to conclude its debt restructuring process by year-end - Eranga Jayawardena/AP/File

COLOMBO – Sri Lanka’s central bank governor has briefed members of parliament on fulfilling the legal requirements of Section 80 (2) (a) of the Central Bank of Sri Lanka Act, No. 16 of 2023.

The Act mandates that the Parliament or a committee inquire into the duties performed by the bank every four months.

Governor Nandalal Weerasinghe pointed out that inflation has been brought down to 5% and the policy interest rate has been brought down, according to a Parliament statement.

Weerasinghe said it was possible to strengthen the rupee by “stabilizing the exchange rate through the strengthening of reserves”.

The governor addressed concerns raised by the MPs on the current financial situation.

-economynext.com

 

Editor_1
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