CB
frees a further Rs. 17 billion to boost cash in the banking
system by cutting statutory reserve requirement again just
after a month releasing Rs. 7.5 billion
Economist warns prolonged war will further devastate economy
Exports slump to lowest since April; trade deficit doubles
to $ 4.6 billion
The
financial crisis in Sri Lanka is firmly confirmed now after
the Central Bank yesterday freed a further Rs. 17 billion to
boost cash in the system bringing the total to Rs. 24.5 billion
in little over a month.
Despite
India and Sri Lanka having issues on the diplomatic front,
money seems to have conquered all odds with politicians
joining in the groundbreaking ceremony of the tallest
building in Sri Lanka
The
banking industry is facing a ‘crisis of
confidence’ and need to restructure themselves
and find solutions for internal issues to face
the crisis ahead, according to Central Bank
Governor Ajith Nivard Cabraal.
