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Wednesday, March 16, 2011 - 06.15 GMT

Japan quake aftermath:
Economic impact on SL 'negligible' - CB


Japan is a large investor in Sri Lanka, but there is no threat to it as this kind of disaster doesnít have an impact on Japanís potential to invest outside of the country. They will continue to do so, said Deputy Governor of Central Bank, Dharma Dheerasinghe commenting on the impact on the Sri Lankaís economy due to the March 11 earthquake and tsunami in Japan.

ďAs far as Sri Lanka is concerned, the impact is negligible. The quake has not affected a large part of the country and the Japanese administration and financial system continue to operate," he said.

We are a net importer from Japan. But a lot of the imports, including Japanese motor vehicles, are produced and shipped from other countries. It is not a big export destination for us, Mr. Dharma Dheerasinghe said to Bloomberg.

He added, 'we have a lot of foreign-exchange dealings with Japan. But our counterparties operate from various locations with backup sites, and market activities continue uninterrupted with little risk'.

He pointed out although Sri Lanka is a big beneficiary of Japanese aid, this does not take place on a daily basis. 'I donít see a threat to this as the Japanese government is functioning.íí






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Last modified: March 16, 2011.

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