The World Bank reaffirmed its support for Sri Lanka with plans to finance three key projects over the next three months totaling $200 million.
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The Central Bank has taken steps to regulate informal money transfer systems including Undial and Hawala to ensure financial stability and prevent illicit activities.The Undial and Hawala systems are informal, trust-based methods of transferring money, common in South Asia and West Asia.
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Sri Lanka central bank’s net foreign assets rose to about 310 million US dollars in November 2024, official data show, as it bought foreign exchange outright through deflationary policy and also settled reserve related liabilities.
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Sri Lanka has renewed a $1.4 billion worth Yuan currency swap with China during the official Beijing visit of President Anura Kumara Disanayake, a joint statement by the both countries said.
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The government has planned a relief package to provide concessions to small and medium-scale enterprises (SMEs) facing difficulties in repaying loans.
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Sri Lanka’s central bank has launched a digital payments promotion campaign in Hambantota, it said in a statement.
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The Central Bank (CB) last week unveiled an ambitious policy agenda: inflation stabilisation, a fostered economy, and financial stability for 2025 and beyond. The CB is envisaging a more forward-looking and data-driven approach to monetary policy formulation through enhancing the macroeconomic modelling setup and alternative frameworks.
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The Chairman of the Committee on Public Finance, MP Dr. Harsha de Silva stated that both the Undial system and the Hawala system are not illegal in Sri Lanka. He made this statement while presenting several proposals in Parliament yesterday (08).
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Sri Lanka will focus on stronger recovery this year after the island nation posted real GDP growth of 5% in 2024, the highest in seven years, its central bank chief said on Wednesday, hoping to accelerate a rebound from its worst financial crisis in decades.
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The Chairman of the Committee on Public Finance, MP Dr. Harsha de Silva stated that both the Undial system and the Hawala system are not illegal in Sri Lanka.
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