News Central Bank laws to new inflation targets…..

According to Central Bank Governor Nandalal Weerasinghe, the country will implement new central bank law to strengthen the bank’s independence, accountability, and price stability in the nation through a new inflation target.

As one of the primary requirements for getting the aid package, Sri Lanka is waiting for the International Monetary Fund (IMF) to finalize a $2.9 billion bailout program for the country by March 20.

In the beginning of this year, due to economic mismanagement and the COVID-19 pandemic’s effects, Sri Lanka was severely short on dollars for imports of necessities, plunging it into its greatest financial crisis since gaining independence from Britain in 1948.