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Vehicle Imports to be reviewed end of the year - CBSL clarifies conversion of export proceeds

Thursday, 25 February 2021 - 20:04
State Minister Ajith Nivard Cabraal states that a follow up and review will be carried out at the end of this year regarding the resumption of vehicle imports.
He stated this at a media briefing held at the Ministry of Finance today. Attygalle also commented.
Meanwhile CBSL stated the reasons for the Repatriation and Conversion of Export Proceeds stating why were these measures needed?
On 18 February 2021, the Monetary Board issued Rules in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lanka rupees, and also issued Operating Instructions to Licensed Banks on the same. ....

Sri Lanka , Sri Lankan , Ajith Nivard Cabraal , Central Bank , State Minister Ajith Nivard Cabraal , Export Proceeds , Monetary Board , Operating Instructions , Licensed Banks , Sri Lanka Rupees , ஸ்ரீ லங்கா , ஸ்ரீ லங்கன் , மைய வங்கி , பண பலகை , இயங்குகிறது வழிமுறைகள் , உரிமம் பெற்றது வங்கிகள் , ஸ்ரீ லங்கா ரூபாய் , திருப்பி அனுப்புதல் , உரிமம் பெற்றது , கடன் வாங்கிய ,

Welcome To IANS Live - BUSINESS - MPC members assert need to maintain accommodative stance: Minutes

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IANSLive
Mumbai, Feb 22 (IANS) The Reserve Bank s Monetary Policy Committee members, in their recent meeting, expressed the need to continue with the accommodative stance to ensure that economic recovery gains greater traction and becomes broad-based.
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Update: 22-February-2021 ....

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Experts: Focus on rates, stimulus allays monetary policy concerns

Experts: Focus on rates, stimulus allays monetary policy concerns
By CHEN JIA |
CHINA DAILY |
Updated: 2021-02-20 08:46
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A clerk counts cash at a bank in Nantong, Jiangsu province. [Photo/Sipa]
Positive vibes on China s economic growth during the first two months of the year will help ease the central bank s concerns on normalizing monetary policy, as policymakers are paying more attention to monitoring interest rates and the effects of policy stimulus globally, experts said on Friday.
China had unveiled several large-scale and strong fiscal, monetary measures since the COVID-19 pandemic. Monetary authorities are now analyzing the spillover effects of these liquidity measures, said Zhu Jun, director-general of the international department of the People s Bank of China, the central bank. ....

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Turkey deals with health tragedy as well as deep economic shock

Constant and steady implementation of the new program would be fundamental in accomplishing its targets, according to International Monetary Fund (IMF) officials, hailing Turkey s recent economic policy shift. ....

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Asia week ahead: Packed with data

(MENAFN - ING) Central bank meetings
Central banks in China, Korea and New Zealand are set to review their monetary policy. All are expected to leave interest rates on hold.
The People s Bank of China hasn t touched the 1-year and 5-year Base Lending Rates since April last year. There is no reason for it to disturb policy now given that the recovery is coming along nicely. The renewed threat to the economy from the pandemic may instil some interest in the other two central bank meetings; the Bank of Korea and the Reserve Bank of New Zealand.
An alarming spike in Korea s jobless rate from 4.5% in December to 5.4% in January, the highest since the Asian crisis in 1999, adds weight to the argument for the Bank of Korea to ease. The last move in the BoK policy rate was a 25bp cut in May 2020, putting it at an all-time low of 0.5%. With very little leeway to take rates lower, it will continue to place the onus on the government to boost growth. As for the RBNZ, we ....

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