Central Bank: Sri Lankan foreign inflows healthy

Sri Lanka's foreign inflows have remained robust in 2013 bolstered by tourism revenue and remittances despite an 18.2 percent drop in exports, latest data from the Central Bank showed here Wednesday.Earnings from Sri Lanka's post-war tourism boom grew at a healthy rate of 20.5 percent in January when compared with the corresponding month of 2012, to 107 million U.S. dollars.Last year revenue from tourism topped the 1 million U.S. dollar mark for the first time in history.Workers'remittances amounted to 524 million U.S. dollars in January 2013, compared to 473 million U.S dollars in January 2012, thus recording a year-on-year growth of 10.8 percent.In January 2013, net sales by foreign investors at the Colombo Stock Exchange (CSE) amounted to 10.4 million U.S. dollars whereas net foreign purchases amounting to 4 million U.S. dollars were recorded in January 2012. "However, there has been a noticeable increase in transaction volumes at the CSE in January 2013, when compared with the corresponding month of January 2012,"added the Central Bank.Meanwhile, there have been significant inflows of foreign investments to the government securities market, with net inflows to treasury bills and treasury bonds amounting to 289 million U.S. dollars during January 2013 compared to a net inflow of 170 million U.S. dollars in January 2012.Further, in January 2013, long-term loans obtained by the government amounted to 125 million U.S. dollars.In terms of months of imports, gross official reserves were equivalent to 4.4 months of imports by end January 2013, while total reserves were equivalent to 5.5 months of imports. Endi