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Tuesday, June 03, 2014 - 05.50 GMT

Issue of human rights doesn’t hinder foreign investments in Sri Lanka - Cabraal


Central Bank Governor Ajith Nivard Cabraal in an interview with BBC News Business rubbished claims that the issue of human rights hinder foreign investments in Sri Lanka.

“Not at all,” he said in reply to a question by BBC News Business.

Cabraal said he has sold £ 6 billion in Sri Lankan bonds to investors around the world, 70 percent of them from the US, the EU and the UK. The idea that they have been put off buying because of human rights issues is “entirely untrue,” the Governor told the interviewer.

Meanwhile, according to latest reports, inflation has come down to 3.2 percent in May this year from 4.9 percent in April. This is the lowest inflation rate recorded since March 2012. The annual average inflation has also decreased to 5.3 percent in May from 5.6 percent in April.

The sharp deceleration has resulted from the moderation in prices of some non-food category items that prevailed in the month of May such as housing, water, electricity, gas and other fuels. However, clothing and footwear prices have increased by 0.1 percent.

However, all the other sub categories including furnishing, household equipment and routine household maintenance; transport; communication; recreation and culture; education; health; and miscellaneous goods and services remained unchanged during the period.

Prices of items in the food and non-alcoholic beverages category has increased by 1.3 percent while almost all the varieties of vegetables, fresh fish, potatoes, red onion, big onion, fruits and eggs have decreased significantly during the month.





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Last modified: June 04, 2014.

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