Chairman Prabhash Subasinghe Archives

SRI LANKA NEWS-(OCTOBER 2020)Compiled by Victor Melder The Government’s (GoSL’s) face value money printing (FVMP) debt hit its highest figure for the year thus far, with a liability of Rs 481,497.87 million recorded today (02), according to Central Bank (CBSL) data. This increase was aided by GoSL’s non-demand-pull-inflationary FVMP debt increasing by Rs This increase of Rs 144,441.46 million was to aid GoSL and CBSL to meet external commitments of US$ 1,136.60 million; complemented by GoSL having to meet a maturing sovereign bond of US$ 1,000 million this month (October), thereby also making the country’s foreign reserves poorer by an equivalent amount (US$ 1,138.75 million). Conversions are based on the middle rate of the benchmark ‘spot’ as at 29 September (Tuesday), which was Rs 185.40 to the US dollar. (Ceylon Today, 2.10.2020) Labour Minister Nimal Siripala de Silva is to appoint an official committee to examine the reasons behind the ...