Sri Lanka’s deepening economic ties with China offer it a cushion from any measures aimed at pressuring the South Asian country into cooperating with investigations into alleged crimes during its civil war.
Stefano Colombo, a former chief financial officer at Telekom Austria AG, is being investigated by Austrian prosecutors on suspicion of money laundering after Deutsche Bank AG reported him to the authorities.
Sri Lanka’s central bank cut one key interest rate while holding another after inflation eased to the lowest level in about two years, ignoring advice from the International Monetary Fund to hold off on further easing.
Louise Fernandez has visited Sri Lanka about five times in the past decade, drawn by its white sandy beaches, tea plantations and historic temples. The South Asian island is about to give her more reasons to return.
Sri Lanka’s interest rates are at an appropriate level and the central bank probably will keep borrowing costs steady for the next three to six months if current conditions persist, Governor Ajith Nivard Cabraal said.