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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka lending rates to fall from May-June: Treasury secretary

Sri Lanka lending rates to fall from May-June: Treasury secretary

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wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Good for the market Very Happy

Sri Lanka's interest rates will start to ease from May and June 2013 ongoing reforms as state energy enterprises take effect, Treasury Secretary P B Jayasundera said.

"We are taking steps to improvement management of state enterprise," Jayasundera said at a forum in Sri Lanka's Central Banka at the release of its annual report, speaking in Sinhalese language.
"Measures are being taken regarding Ceylon Petroleum Corporation and Ceylon Electricity Board.

"By May and June interest rates will start to come down."

Sri Lanka ran into a balance of payment crisis from mid 2011 largely due to credit taken by state energy utilities.

The CEB is expected to raise prices this month and the CPC is expected to stop giving it subsidized furnace oil.
Though the Central Bank has cut rates, lending rates have been high partly due to state borrowings from the banking system.

http://www.lbo.lk/news/Sri_Lanka_lending_rates_to_fall_from_May-June:_Treasury_secretary/685165444

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Yes good to hear. Well done atelast on words for now.

"We are taking steps to improvement management of state enterprise," Jayasundera said at a forum in Sri Lanka's Central Banka at the release of its annual report, speaking in Sinhalese language.
"Measures are being taken regarding Ceylon Petroleum Corporation and Ceylon Electricity Board."

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