Sri Lanka’s gross official reserves were USD 1.9 billion as at the end of June, Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe said today.
Addressing the media, he said the amount includes the swap facility equivalent to USD 1.5 billion from the People’s Bank of China.
The Central Bank Governor also warned that Sri Lanka’s headline inflation may increase to 70% in the coming months.
The increase in Sri Lanka’s headline inflation will be from the present level of 50%, he added.
Dr. Weerasinghe further said that broad guidelines and a framework will be issued to banking and non-banking institutions.
The guidelines and framework will be issued with regard to moratoriums for loans, and restructuring, including grace period for capital/ interest where necessary.
The broad guidelines and framework for banking and non-banking institutions will be issued for the next 06 months, he said.
The Central Bank Governor added that litigation against defaulters has been recommended to be on hold for at least the next 06 months. (NewsWire)
