Sri Lanka, March 10 -- Sri Lanka is better prepared to deal with the economic shocks that may arise from the increase in oil prices in the global market today, compared to the severe financial crisis of 2022, says Central Bank Governor Dr. Nandalal Weerasinghe.Geographic Reference

"As long as there is oil in the global market, Sri Lanka has the resources to buy it," the Central Bank Governor added.

Sri Lanka's strong foreign exchange reserves of US$7 billion and the current low inflation rate are crucial factors in absorbing these shocks, the Governor pointed out. He expressed confidence that there is sufficient room for domestic inflation to absorb a price shock, as inflation remained at 1.6 percent last month, well below the Central B...