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Situation much better than expected, IMF funds by December CBSL-Governor Vote_lcap16%Situation much better than expected, IMF funds by December CBSL-Governor Vote_rcap 16% [ 43 ]
Situation much better than expected, IMF funds by December CBSL-Governor Vote_lcap21%Situation much better than expected, IMF funds by December CBSL-Governor Vote_rcap 21% [ 57 ]
Situation much better than expected, IMF funds by December CBSL-Governor Vote_lcap30%Situation much better than expected, IMF funds by December CBSL-Governor Vote_rcap 30% [ 83 ]
Situation much better than expected, IMF funds by December CBSL-Governor Vote_lcap34%Situation much better than expected, IMF funds by December CBSL-Governor Vote_rcap 34% [ 93 ]

Total Votes : 276

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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Situation much better than expected, IMF funds by December CBSL-Governor

Situation much better than expected, IMF funds by December CBSL-Governor

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samaritan

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Situation much better than expected, IMF funds by December CBSL-Governor 1x-1

In a short interview on 23rd August 2022 with the Bloomberg Sri Lanka’s Central Bank Governor Dr Nandala Weerasinghe said the following:


  • Inflation to peek in September but according to latest CBSL projections it won’t be touching 70% even after considering electricity price hike

  • Monetary expansion is slowing down

  • Prices are settling down

  • Exchange rate is stabilising

  • No shortages

  • No further interest rate hike needed at the moment

  • Higher contraction on the demand side than expected

  • Will only restructure external debt

  • Can manage without restructuring domestic debt

  • Expects IMF to start disbursing Extended Fund Facility funds by December

  • Banks are in a very good position but going forward if Non- Performing Loans keep rising, in a position to handle situation along with the banking sector

  • Government budget next month

  • November budget (2023 budget) will make strong policy changes

  • Even without external financing can manage essential imports with increase in exports and curtailment of imports

  • More foreign exchange coming through the banking sector, CBSL gradually increasing reserve position


Overall the situation is much better than expected


https://www.businesstribune.lk/business-news/situation-much-better-than-expected-imf-funds-by-december-cbsl-governor-nandalal-weerasinghe-more-points-from-bloomberg-interview-%f0%9f%91%87%ef%bf%bc/

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