Amid the ongoing economic crisis in the country, the headline inflation in Sri Lanka might increase to 70 per cent in the coming months. Sri Lanka’s Central Bank Governor Dr Nandalal Weerasinghe on Thursday said that the gross official reserves of the country were USD 1.9 billion at the end of June, the News Wire reported.
The amount of the gross official reserves include the swap facility equivalent to USD 1.5 billion from the People’s Bank of China, he added. The Central Bank Governor mentioned the present headline inflation in the country is 50 per cent and it might increase to 70 per cent in the coming months.
Broad guidelines and a framework will be issued to banking and non-banking institutions with regard to moratoriums for loans, and restructuring, including grace period for capital/interest where necessary, the News Wire reported citing Dr Weerasinghe.