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IMF urges central banks to ‘stay the course’ till prices tamed

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Bloomberg:Central banks globally must remain vigilant until inflation is firmly under control, according to International Monetary Fund Managing Director Kristalina Georgieva.

“I want to be clear we are not yet seeing inflation going down to target fast enough,” Georgieva told Bloomberg Television’s Haslinda Amin on the sidelines of the Group of 20 finance chiefs’ meetings in Bengaluru, India. “Central banks need to stay the course until we are comfortable that price stability is returning.”

As many central bankers begin to slow their policy tightening, inflation prints across the world remain sticky. With China reopening at a pace that’s exceeded expectations, Georgieva remained hopeful that domestic consumption there remains a growth driver for the world with little risk for an additional inflation flare-up.

In the US, the personal consumption expenditures price index rose 5.4% in January from a year earlier and the core metric was up 4.7%, both marking pickups after several months of declines. In Europe, underlying inflation is forecast to stay at a record 5.3% and in many parts of Asia, including India and Australia, core inflation has remained sticky. Authorities shouldn’t let their guard down as price stability is essential for investors and for consumers to keep on spending, which are the foundations for economic growth, according to the IMF chief.

While China’s resurgence this year is a boon, Russia’s war on Ukraine is “still casting a long shadow on the global economy,” Georgieva said Saturday.

“When we have uncertainty, that impacts investors, it impacts the ability for economies to grow,” she said. “And of course the war is terrible for the people of Ukraine. It is terrible for the world economy.”

Apart from the prolonged war and lingering inflation, debt troubles besetting poorer nations like Zambia, Sri Lanka and Pakistan are adding to uncertainties, said Georgieva.

“I am concerned about emerging markets and developing economies that have very little fiscal space or none,” she said. “And at the same time they have to service that big part of it, of which is dollar denominated, on top of higher interest rates.”



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Ceylinco Life agent among three global finalists for award

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Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

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CEAT Kelani retains AA+ rating for sixth year

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CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

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Commercial Bank leads nationwide aquatic clean-up drive

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Sanath Manatunge, Managing Director/CEO of Commercial Bank and some of the Bank’s staff participating in the coastal cleanup programme

Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.

Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.

The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.

Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.

The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.

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