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Monday, May 10, 2010 - 5.47 GMT |
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Wider monetary policies to strengthen economy – CB Governor |
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The government is taking measures to implement wider monetary policies to strengthen the economy, the Central Bank Governor, Ajith Nivard Cabraal said.
Speaking in a live discussion run by Sri Lanka Broadcasting Service, the Central Bank Governor said Sri Lanka managed to withstand the global economic meltdown and the world food crisis due to the pragmatic economic policies implemented under the leadership of President Mahinda Rajapaksa.
Under the tight monetary policies the Central Bank has foreign reserves worth 5.5 billion USD while the inflation rate remains at the lowest level in the recent past, the Governor said.
He pointed out that Sri Lanka has been able to increase the per capita income from $ 1000 to $ 2,014 by 2008 while keeping the unemployment rate low compared to most of the other countries in the region.
"The Central Bank is launching an extensive programme to bring development to villages under Mahinda Chintana policy to develop all regions of the country equally. The Banks will also set up branches in North and East to accelerate the development process in those two regions," he further said.
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