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贵州福彩网-【官网首页】 Decides to Establish a Rupees 50 Billion, Six Month Re-Financing Facility and Issues Instructions to Financial Institutions to Support Covid-19 Hit Businesses and Individuals

The 贵州福彩网-【官网首页】 (CBSL) has decided to set up a Re-financing Facility to implement the decisions taken by the Cabinet of Ministers on 20.03.2020 to introduce a wide range of concessions including a debt moratorium (capital and interest) and a working capital loan for COVID-19 hit businesses and individuals. Licensed commercial banks, licensed specialised banks, licensed finance companies and specialised leasing companies (Financial Institutions) are eligible to participate in this Re-financing Facility commencing 25.03.2020 and offer the concessions announced.

Inflation decreased in March 2020

Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 declined to 5.4 per cent in March 2020 from 6.2 per cent in February 2020. This was due to the decline in the prices of items in the Food category. Accordingly, Food inflation (Y-o-Y) declined to 12.8 per cent in March 2020 from 14.7 per cent in February 2020, while Non-food inflation (Y-o-Y) recorded at 2.5 per cent in March 2020.

Measures taken by the 贵州福彩网-【官网首页】 to Provide Flexibility to Licensed Finance Companies and Specialised Leasing Companies to Support Businesses and Individuals Affected by the Outbreak of Coronavirus (COVID – 19)

The Monetary Board of the 贵州福彩网-【官网首页】 (CBSL) decided to introduce number of measures to provide flexibility to Licensed Finance Companies (LFCs) and Specialised Leasing Companies (SLCs) facilitating them to support businesses and individuals affected by the outbreak of COVID-19. In line with this initiative, implementation of several regulatory measures such as capital enhancement will be deferred while certain regulatory measures will be relaxed as a temporary step giving due consideration to the imminent threat faced by LFCsand SLCs.

External Sector Performance - January 2020

The trade deficit widened in January 2020 compared to January 2019, as earnings from exports declined while expenditure on imports increased. Although the tourism industry rapidly recovered from the Easter Sunday attacks by end 2019, the COVID-19 outbreak reversed the recovering trend in January 2020. Workers’ remittances recorded a year-on-year growth in January 2020. Meanwhile, foreign investment in the government securities market recorded a net inflow in January 2020 while a net outflow was observed from the CSE. The Sri Lankan rupee remained broadly stable and appreciated against the US dollar in January 2020, but depreciated sharply in March in the face of the COVID-19 pandemic following a similar trend of many emerging market currencies due to strengthening US dollar and yen.