Import expenditure declined notably, compared to the reduction in export earnings in February 2023 (y-o-y), resulting into sizeable moderation in the trade deficit.
Workers’ remittances and earnings from tourism continued to improve in February 2023.
Gross official reserves strengthened further by end February 2023, compared to recent months.
The exchange rate appreciated notably in March 2023 following the greater flexibility that was allowed in the determination of the exchange rate.
The Colombo Stock Exchange (CSE) and foreign investment in the government securities market recorded net inflows during February 2023.
The Extended Fund Facility (EFF) from the International Monetary Fund (IMF) of US dollars 3 billion was approved and the first tranche was disbursed in March 2023.