The Central Bank (CB) on Tuesday said it was removing the 5 per cent Special Standing Deposit Facility Rate with immediate effect (from March 2). “By end 2014, on a year-on-year basis, private sector credit (has) grown by 8.8 per cent. Given the signs of sustained increase in credit flows to the private sector, the view of the Central Bank is that restrictions placed on the access to the SDF are no longer required. Accordingly, the 5 per cent SDF rate was withdrawn with effect from 2 March 2015. The Central Bank is also of the view that removal of the special SDF rate of 5 per cent would help to stabilise overnight interest rates within the policy rate corridor of the Central Bank,” the CB said in a media statement. - ENDS -
Tamar Amitai, a 25-year-old Israeli tourist who went missing in Uppuveli, Trincomalee, was found safe after a three-day joint search operation today.
The Colombo High Court today (28) sentenced former parliamentarian Hirunika Premachandra to three years of Rigorous Imprisonment over charges of the involvement of an abduction.
In his special statement, President Ranil Wickremesinghe announced that debt restructuring agreements will postpone all bilateral loan payments to foreign countries until 2028. Additionally, Sri Lanka will have until 2043 to repay these loans on concessional terms.
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