News
Explosion of credit to private sector this year at low interest to ensure economic recovery – CB
A record Rs. 850 billion worth of credit would be given to the private sector by the Banks in 2021, CBSL’s Director of Economic Research Dr. Chandranath Amarasekera told the media yesterday.
The increase in the Private sector credit growth would be due to low interest rates, introduction of loan targets for selected segments of the SME sector and the increase in demand for credit as investor confidence booms, Dr. Amarasekera said.
CBSL had already commenced a dialogue with banks to iron out issues that might arise, he said.
Dr. Amarasekera said that the Standing Deposit Facility Rate will remain at 4.5% and the Standing Lending Facility Rate will remain at 5.5%. The Monetary Board decided to keep the policy interest rates unchanged considering the global and local situation, he said.
The Board also decided to keep interest rates low until the economy showed a sustainable recovery, Dr. Amarasekera said.
President Ranil Wickremesinghe addressing Tri Forces, Police officers and other rankers at the Air Force Base Anuradhapura stated that during his presidency, no one will be allowed to breach the law and order of the country. He emphasized that he will prioritize doing what is right over doing what is popular, and that presenting popular ideas can lead to the destruction of the country.
He asserted that no one is entitled to engage in violent protests on the streets, but all political parties have the right to express their opinions or criticize him in a peaceful manner.
Two students died and seven others were injured when the vehicle they were traveling toppled in Badulla today (01)
The students were participating in a vehicle parade held as part of the revelries for the 74th Battle of Uva between Uva Badulla Maha Vidyalaya and Dharmadutha Maha Vidyalaya which commenced at the Badulla Cricket Stadium on Friday (31)
The Regional Director of Education Badulla on hearing of the unfortunate incident had ordered the match to be called off.
The Badulla Police are conducting investigations.
‘Better Policy Making Through Evaluations’ the first on-site international training on evaluation for Parliamentarians and Parliament research staff in the Asia Pacific region was held in Colombo from the 27th to the 30th of March 2023.
On the final day of the training programme fifty (50) Parliamentarians and Parliament research staff from around 20 countries across Asia Pacific visited the Parliament of Sri Lanka for an exchange session and dialogue on the importance of evidence-based policy making through evaluations.
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