The commercial banks in Sri Lanka are suffering from a deficit of Rs. 455 billion, revealed former deputy Governor of the Central Bank of Sri Lanka W.A. Wijewardena.
In a tweet, the ex CBSL deputy governor pointed out that the crisis is due to the interest rates and exchange rates being artificially controlled.
Wijewardena urged that the CBSL should act immediately in providing funds to the banking systems without letting the commercial banks collapse.
MIAP