Report to Basil Rajapaksa, Hon. Minister of Finance as required under Sections 64 and 68 of the Monetary Law Act: Need for Urgent Policy Actions to Ensure Macroeconomic Stability

Abstract

This report, dated 28 February 2022, was submitted by Ajith Nivard Cabraal, Governor and Chairman of the Monetary Board of Sri Lanka, to Basil Rajapaksa, Hon. Minister of Finance, under Section 64 and Section 68 of the Monetary Law Act. It informs the Minister of current economic vulnerabilities, outlines remedial actions taken by the Central Bank, and emphasises the need for urgent actions by the government to address the situation.