FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» When will supply chain disruptions ease?
by Gowri123 Yesterday at 11:46 pm

» KHL Massive forex gains close to 6 billions
by rajini Yesterday at 10:54 pm

» Tourism in Sri Lanka: One step forward, two steps back
by rajini Yesterday at 9:21 pm

» Expolanka to continue its winning streak
by samaritan Yesterday at 4:12 pm

» The war in Ukraine is no longer shocking the wheat market
by ResearchMan Yesterday at 12:53 pm

» Govt gets its priorities wrong
by samaritan Yesterday at 10:25 am

» Ambassador assures U.S. support to Sri Lanka to find solutions to economic issues
by samaritan Yesterday at 10:16 am

» IMF-Sri Lanka bailout talks end without a deal
by ChooBoy Yesterday at 9:16 am

» Sri Lanka Breaks Into Hyperinflation Zone Amid Dollar Crunch
by CHRONICLE™ Yesterday at 8:11 am

» Sri Lanka needs to do more on debt restructuring before a bailout package is finalised, says IMF
by CHRONICLE™ Yesterday at 8:06 am

» Global COVID cases rise as BA.4 and BA.5 expand
by samaritan Yesterday at 7:04 am

» POSITIVES & TARGETS BY IMTIAZ BUHARDEEN
by Gowri123 Wed Jun 29, 2022 4:38 pm

» We’re seeing a shift toward international and value stocks, says Schwab’s Kleintop
by target1 Wed Jun 29, 2022 2:40 am

» Wall Street stumbles as consumer pessimism stokes growth fears
by target1 Wed Jun 29, 2022 2:34 am

» Free Market Capitalism vs. Crony Capitalism
by target1 Wed Jun 29, 2022 2:30 am

» Sri Lankan corporations reap large profits as workers and rural toilers face poverty and starvation
by CHRONICLE™ Tue Jun 28, 2022 6:37 pm

» අද රාත්‍රියෙන් පසු, යක්ෂයාගේ හෝරාව ඇරඹේ!
by God Father Tue Jun 28, 2022 6:13 pm

» Derana 360 with Minister Dhammika Perera
by samaritan Tue Jun 28, 2022 1:07 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by LHW Tue Jun 28, 2022 9:24 am

» Breaking News- Kanchana to go to Qatar ; 2 more ministers off to Russia
by Beyondsenses Tue Jun 28, 2022 8:13 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Imports, credit growth curtailed, external sector strengthened - Central Bank

Imports, credit growth curtailed, external sector strengthened - Central Bank

Go down  Message [Page 1 of 1]

Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Policy measures implemented in February and March this year, aimed at reducing the high import growth and the high credit expansion are yielding expected results, the Central Bank (CB) stated in its monetary policy review last week.

In the external sector, preliminary estimates indicate the desired deceleration of expenditure on imports in June 2012 and a corresponding decline in the deficit in the trade account in the second quarter of 2012. In the monetary sector, year-on-year growth of broad money has decelerated from 22.9 percent in April to 20.5 percent in June 2012.

At the same time, the growth of credit extended to the private sector by commercial banks has declined from 18.1 percent in the second half of 2011 to 11.4 percent the first half of 2012.

The global economic conditions continue to worsen with the recovery of US and European economies remaining sluggish. However, these adverse global conditions are not likely to affect the Sri Lankan economy more than what was anticipated at the time of revising the economic growth forecast for 2012 downward to 7.2 percent.

“The amount of credit that could still be disbursed in the second half of the year by licensed banks even with the credit ceiling in place, could comfortably support the revised economic growth path.

In that context, the growth estimates still seem to be within reach, notwithstanding the gloomy global conditions,” a spokesman for the Central Bank said.

Meanwhile, cumulative net inflows to the Colombo Stock Exchange and net foreign investments in the Government securities market up to end July 2012, have exceeded $ 205m and $ 842m.

With the receipt of the final tranche of the IMF-SBA facility of $ 414m , the proceeds of the successful fifth International Sovereign Bond issue of $1 b in July 2012, and other foreign inflows, gross official reserves are estimated to have risen to around $ 7.1b by end July 2012. The reserve level is equivalent to an import cover of 4.2 months, and the strengthened external sector position is likely to attract further foreign investment flows as estimated.

“The economy is on track to realise the macroeconomic targets as envisaged.

However, inflation has picked up with year-on-year inflation, which has remained at single digit levels for the past 3 1?2 years, increasing to 9.8 per cent in July 2012, from 9.3 per cent in the previous month, although annual average inflation has continued to remain at around six per cent since February 2012.
http://www.sundayobserver.lk/2012/08/12/fin05.asp

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum