Cabinet nod to table CB annual report in Parliament

The Cabinet of Ministers cleared the path to table the Central Bank Annual Report 2020 in Parliament as per the provisions of the Monetary Act.

On Monday, the Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance sought the approval of the Cabinet of Ministers to table the report in Parliament.

As per the provisions of the Monetary Act, the annual report must be submitted to Parliament by the Finance Minister within fourteen days of its submission. 

The Central Bank (CB) last Friday (30th) submitted its annual report to the Ministry of Finance just one day before the legally required deadline. 

“The Monetary Board of the Central Bank of Sri Lanka should submit a report to the Minister of Finance within four months of the commencement of a year, containing information on the economic situation, situation of the Central Bank of Sri Lanka and the policies and actions taken by the Monetary Board during the year,” the State Information Department noted.

According to the annual report, Sri Lanka’s economy contracted 3.6 percent in 2020, the worst economic performance of the post-independence Sri Lanka.