Sri Lanka, June 18 -- Former Finance Minister and Member of Parliament Ravi Karunanayake has written to President Anura Kumara Dissanayake, who is also the Minister of Finance, Economic Stabilisation and National Policies, requesting that Sri Lanka's medium-term inflation target be reduced from the current 5% to a range of 2%-3%, ahead of the legally required review of the Monetary Policy Framework Agreement (MPFA scheduled for October 2026).

The Monetary Policy Framework Agreement, signed on 5 October 2023 by then President Ranil Wickremesinghe and Central Bank Governor Dr. P. Nandalal Weerasinghe, is required to be reviewed every three years under the Central Bank of Sri Lanka Act No. 16 of 2023. The next scheduled review falls in Octo...