Sri Lanka Has ‘Space’ to Absorb Oil Shocks, Central Bank Governor Says

CB Chief Says Sri Lanka Better Equipped to Handle Oil Price Shocks - LNW Lanka News Web

March 09, Colombo (LNW): Sri Lanka is now in a stronger position to cope with fluctuations in global oil prices compared with the situation during its recent economic crisis, according to Central Bank Governor Dr. Nandalal Weerasinghe.Speaking in a televised interview with Bloomberg, the governor said the country’s current economic stability provides a degree of protection against external pressures, including the recent surge in international p…

Sri Lanka Poised to Absorb Oil Shocks, Affirms Central Bank Governor

Sri Lanka is in a stronger position to withstand global oil price shocks compared to the crisis in 2022, supported by a $7 billion foreign reserve buffer, according to the country’s central bank governor. This statement comes as global oil prices have surpassed $115 per barrel. While the ongoing conflict following the US-Israeli attack on Iran could present challenges for oil-importing nations like Sri Lanka, the country’s current economic indic…

Sri Lanka has ‘space’ to absorb oil shocks, central bank governor says

ECONOMYNEXT – Sri Lanka is in a ‘better position’ to weather global oil price shocks, compared to the 2022 crisis, backed by a 7 billion dollar foreign reserve buffer, its central bank governor has said before global oil prices topped 115 dollars a barrel. While the escalating conflict following the US-Israeli attack on Iran could pose risks to oil-importing nations like Sri Lanka, current economic indicators in the country had ‘good space’ to a…