The US $ 500 million debut international bond has resulted in boosting Sri Lanka’s international reserves and as a result the US $ 200 million balance of payment surplus originally forecast for 2007 has been now revised to US $ 450 million, said a press release issued by the Central Bank of Sri Lanka on October 26.
  
The inflow of US $ 500 million has stabilized the exchange and market interest rates. It is expected to have a favourable impact on domestic price levels too.
  
The Central Bank also said that the economy grew by 6.4 percent during the second quarter of 2007 showing an increase of 0.3 percent over the first quarter. Strong performance in the industry and services sectors and the recovery in the agricultural sector have led to this better growth, it added.

PRINT THIS STORY

Contact Information: Send mail to priu@presidentsoffice.lk with questions or comments about this web site. 
Last Updated Date: October 30, 2007 - 5.30 GMT