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CB Governor urges the public to grasp macro matters that shape the economy

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Dr. Nandalal Weerasinghe

By Sanath Nanayakkare

It is important that the general public acquires an understanding on the independent monetary policy of the Central Bank and the fiscal policy of the Government which have achieved economic stability at present, and how the current semblance of stability should be maintained going forward in order to sustain sustainability, Central Bank Governor Dr. Nandalal Weerasinghe said addressing the press at the Central bank.

Referring to Financial Statements and Operations of the Central Bank in 2023 and 2024 he said,” The main message we wish to convey to the general public of the country is that economic stability is now well encapsulated into the macroeconomic picture as a result of the policies that have been implemented by the Government and the Central Bank of Sri Lanka over the past few years. So, what we ought to tell the masses is; it is important to maintain this semblance of stability in the medium to long term for the economy to function well by taking it in the same direction. Such firmness in policy action in the future will further help to contain inflation, make the financial system more robust, increase people’s incomes and reduce poverty.”

“The second most important point is how the Central Bank will be fulfilling its duties in conducting the monetary policy towards transformational growth in line with the macroeconomic targets. There is correlation between fiscal policy and the monetary policy, and therefore, fiscal policy tends to have an impact on monetary policy. Sometimes I see that various incorrect opinions are expressed in parliament and at societal level about these two policies which reflect a gap in understanding the two elements. No other institution but the Central Bank is accountable for conducting the monetary policy of the country which includes interest rates, exchange rate, foreign currency reserves and financial sector stability.”

“The fiscal policy actually comes under the purview of the Executive, the Cabinet, the Parliament, Ministries, Departments etc. The Central Bank has to regulate the financial sector in addition to making monetary policy. The government and the Central Bank are two different institutions. The Central Bank is not literally a government institution but it is a State institution carved out with independent responsibilities, and therefore, is accountable to the parliament. That is why we have captured the details of both policies in our latest economic review report and presented it to the government and the people.”

“Our duty is to control the inflation appropriately and properly manage the banking and non-banking institutions ensuring financial stability. Sometimes it is said that the Central Bank is incurring losses and attempts are made to reflect it as an unsuccessful institution. The Central Bank wasn’t founded in the first place with the objective of making profits. When the Central Bank is conducting its monetary policy it could make a profit or incur a loss. But what actually matters is whether its monetary policy was favorable to the country or not. So, any attempt at measuring the success of the Central Bank on its profit-loss figures is misleading and incorrect. In many years the Central bank has made profits while in some years, it has incurred losses.

“In 2022, the loss of Rs. 374 billion was mainly because of steep depletion of our reserves and our short-term swaps and also huge increase in our loan stock in rupee terms with the phenomenal depreciation of the rupee to the dollar from Rs. 202 to Rs. 370.”

“In 2023, the Central Bank made a loss of about Rs. 700 billion due to domestic debt optimization amounting to Rs. 2.5 trillion. So, I urge the people to be more aware of why the Central Bank makes such losses while it is carrying out its core functions. The public also needs to understand the government’s fiscal policy, the relation between the government and the Central Bank and the responsibilities between the two entities,” the Governor said.

He urged the public to grasp the macro matters in their true essence and understand the need to stay the current course to sustain the sustainability for their lives to be less burdensome in the future.



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Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market

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T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL)

By Sanath Nanayakkare

Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.

Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.

He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.

“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.

Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.

Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.

Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.

Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.

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SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline

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SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.

Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.

Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”

Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.

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JXG enters LMD’s Most Respected Entities in Sri Lanka 2026 for the first time, securing a place among the first 50

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Gamika de Silva, Group Chief Marketing Officer at JXG

JXG (Janashakthi Group), Sri Lanka’s leading financial conglomerate, has been ranked 44th in LMD’s Most Respected Entities in Sri Lanka 2026, marking the Group’s first appearance in the prestigious listing. The recognition places JXG among Sri Lanka’s most respected companies and marks an important milestone in the Group’s master-brand journey.

As the holding company, JXG was also recognised across key attributes including Aspirational Workplace, Business Expansion, Business Innovation, Corporate Culture, Corporate Dynamism, Crisis Management, Employee Wellbeing, Honesty and Integrity, and Leadership Profile. The recognition reflects the growing strength of the JXG brand and the collective contribution of its businesses and people in building trust and confidence among its stakeholders.

JXG’s subsidiaries, including Janashakthi Life and First Capital, have also been recognised in the main table of LMD’s Most Respected Entities 2026 rankings, while Janashakthi Finance has been recognised under the Business Expansion attribute, reflecting the strength of the Group’s individual businesses alongside its growing master brand.

Conceptualised and commissioned by LMD and conducted by PepperCube Research Consultants, the Most Respected Entities special edition recognises companies based on an independent survey of Sri Lanka’s business community.

Commenting on the recognition, Gamika de Silva, Group Chief Marketing Officer at JXG, said, “This is a proud moment for all of us at JXG. We set out to build a Group brand that is not just seen but lived by our people and reflected in everything we do. Ultimately, the true testament to any brand lies in its people, and the credit for this recognition goes to everyone across JXG who brings our values to life every day. This recognition is an encouraging milestone for us, while also reminding us to keep raising the bar and earning the respect of our stakeholders through what we do.”

JXG’s approach to building trust is anchored in its core values of Integrity, Collaboration, Respect, Performance Driven and Innovation. These values guide how its businesses operate, how its people engage with one another and how the Group serves its customers and wider stakeholders.

As JXG continues to expand its businesses, the Group remains focused on strengthening its market presence, creating long-term value and contributing to the growth of Sri Lanka’s financial services sector, guided by its purpose, Breaking Barriers, Forging Futures.

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