Former Colombo Stock Exchange (CSE) Chairman and veteran banker Nihal Fonseka and Institute of Policy Studies (IPS) Executive Director Dr. Dushni Weerakoon have submitted their resignation from the Central Bank’s Monetary Board, which is responsible for monetary policy decision-making.

With the objective to encourage foreign income earners in the country, Bank of Ceylon (BOC) is promoting the Special Deposit Account (SDA) including those who receive their foreign remittances both in foreign currency and/or in Sri Lankan Rupees.

The Special Commodity Levy (SCL) hike on 26 products including some food items will offset the revenue loss caused by the prohibition of non-essential imports last month. The SCL has been increased for six months with effect from May 22, the Finance Ministry said.

Sri Lanka’s seafood exports will regain resilience following the exiting of the lockdown and resuming economic activities during COVID-19 as the industry is one step ahead in the global supply chain.

CCPI based Inflation declined further in May 2020Headline inflation as measured by theyear-on-year (Y-o-Y) change in the Colombo Consumer Price Index declined to 4.0 per cent in May 2020 from 5.2 per cent in April 2020, Central Bank announced.

Sri Lanka’s capital outflows and the depreciation of currency continued since mid February up to now despite Central Bank’s precautionary measures who its weakest quarter ending May

Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI) declined to 4% in May from 5.2% in April, the Central Bank said in a statement yesterday.

Foreigners stepped up interest on Lankan listed equities as they ended the week as net buyers, a phenomena not seen for months, whilst the Colombo bourse too achieved its second consecutive week of gain.

Economic Revival Plan of the Interim Government was launched to revive the economy and reduce the COVID-19 impact.