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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Inflows remain “healthy”: CB

Inflows remain “healthy”: CB

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1Inflows remain “healthy”: CB Empty Inflows remain “healthy”: CB Thu May 09, 2013 12:50 am

sriranga

sriranga
Co-Admin
The Central Bank noted that inflows remain healthy, mostly spearheaded by tourism revenue, remittances and stock market investments though the latter has declined from 2012 first quarter levels. In the meantime, tourist arrivals in March 2013 increased by 7.7%, year-on year, to 98,155, thus raising total tourist arrivals during the first quarter of 2013 to 288,798. Accordingly, tourist arrivals in the first quarter of 2013 have recorded a growth of 10.9%, year-on-year.

Earnings from tourism in March 2013 grew at a healthy rate of 16.2%, year-on-year, to US$ 108 million, while cumulative earnings from tourism recorded a growth of 19.1% over the first quarter of 2012.

However, workers’ remittances amounted to US$ 545 million in March 2013, compared to US$ 565 million recorded in March 2012, thereby registering a decline of 3.4%. Nevertheless, cumulative inflows on account of workers’ remittances amounted to US$ 1,560 million during the first quarter of 2013, thus recording an increase of 3.4% over the corresponding period of 2012.

“In March 2013, net inflows to the Colombo Stock Exchange (CSE) amounted to US$ 40.4 million compared to a net inflow of US$ 143.8 million recorded in March 2012. However, there has been a noticeable increase in transaction volumes at the CSE during the first quarter of 2013. Meanwhile, there have been substantial inflows of foreign investments to Government securities, with net inflows to Treasury bills and Treasury bonds in March 2013 amounting to US$ 33.5 million, compared to a net inflow of US$ 6.8 million in March 2012,” the statement said.

Cumulative net inflows to the Government securities market in the first quarter of 2013 increased substantially by 31.6% to US$ 535 million, compared to a net inflow of US$ 406 million in the first quarter in 2012. Further, long-term loans obtained by the Government amounted to US$ 428 million during the first quarter of 2013, while more inflows are expected to materialise during the rest of the year.

“In line with the above developments, by end March 2013, gross official reserves Amounted to US$ 6,689 million, while total international reserves, which include gross official reserves and foreign assets of commercial banks amounted to US$ 8,121 million. In terms of months of imports, gross official reserves were equivalent to 4.4 months of imports by end March 2013, while total reserves were equivalent to 5.4 months of imports. By end April 2013, gross official reserves are estimated to have increased to US$ 6.9 billion, which is equivalent to around 4.5 months of imports.”
http://www.ft.lk/2013/05/09/inflows-remain-healthy-cb/

http://sharemarket-srilanka.blogspot.co.uk/

2Inflows remain “healthy”: CB Empty Re: Inflows remain “healthy”: CB Thu May 09, 2013 9:12 am

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Government always depend on the remittance from foreign workers.
Unfortunately they are given the least concessions for their contributions to the country comparing to the that of given to locals. Government should review entire system & provide more facilities to motivate foreign workers to remit the maximum into country.

3Inflows remain “healthy”: CB Empty Re: Inflows remain “healthy”: CB Thu May 09, 2013 9:15 am

UAEBOY

UAEBOY
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@worthiness wrote:Government always depend on the remittance from foreign workers.
Unfortunately they are given the least concessions for their contributions to the country comparing to the that of given to locals. Government should review entire system & provide more facilities to motivate foreign workers to remit the maximum into country.

100 times true... Twisted Evil

4Inflows remain “healthy”: CB Empty Re: Inflows remain “healthy”: CB Thu May 09, 2013 12:04 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Agreed.

ආණ්ඩුවේ පඩි කන උන්ට තීරු බදු සහනයෙන් බිලියන් ගානක් අදායම අහිමි විලු
මේ කාර් තොග ගණන් ගෙන්වන්න දෙන විදේශ විනිමය එවන උන්ට බයිසිකල් කට්ටක් ගෙනාවත් බදු ගසති .

15 වසරක් තිස්සේ විදේශ රැකියාවක යෙදෙමින් මේ රටට ඩොලර් ලක්ෂ ගණනක් එවූ මගේ යහළුවෙක් වාහනයක් ගෙන ඒමට අවශ්‍ය වී මේ ලඟදි ආණ්ඩුවේ නිලධාරියෙක්ගේ වෙහිකල් පර්මිට් එක ලක්ෂ 10 ක් ගෙවා මිලට ගත්ත .

අඹු දරුවන් සමග ඉතා සීමිත කාලයක් ගතකරමින් කාන්තාර වල සේවය කර රටට විදේශ විනිමය ගනෙන අයට දෙන සැලකිල්ල තමයි කටුනායක කස්ටම් එක ළඟ රැක සිට අපරාධ කරුවන් මෙන් බෙල්ලෙන් අල්ලන් ඇවිත් මුදල් දහ පහළොස් දාහක් කඩා ගැනීම .

5Inflows remain “healthy”: CB Empty Re: Inflows remain “healthy”: CB Thu May 09, 2013 1:35 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
If any government authority calls me I am volunteered to justify the cause for expatriates. Those who worked over 30 years abroad were unable to get even a gift permit for 5 years old car, from controller of Imports & exports three years before. Even they were disallowed to meet the controller at that time. I am unaware the situation now. That is how expats were treated. I am one of the unfortunate victims at the hand of such bureaucrats. What a miracle.

6Inflows remain “healthy”: CB Empty Re: Inflows remain “healthy”: CB Fri May 10, 2013 9:03 am

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
I always though that the back bone of our country are the women who go abroad to work as house maids. (not to mention the men who go as drivers, carpenters mechanics etc). These are the people who remit every cent they earn back to Sri Lanka and keep this country afloat. Mean while so called professionals leave the country in droves and never remit a cent back to Sri Lanka. It pains me to see how they are treated at the airport and in the Sri Lankan flights. They are are the true unsung heros of our economy.

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