Type of Intervention: Other Announcement
Sectors Involved: Central Bank, Finance/Economy
Intervention Categories: Education and awareness; Finance policy and financial aid; Monetary and macro-financial policy
Level of Jurisdiction: National
Lead People/Agency: Central Bank, state and private banks
Overview: The President requested the banking sector deviates from conventional thinking and practices to support the country’s aim to rebuild the economy which has been badly hit by the COVID-19 pandemic. The top priority at the moment is to strengthen the production economy.
Full details here: https://www.presidentsoffice.gov.lk/index.php/2020/05/14/president-calls-on-banking-sector-to-think-out-of-the-box-to-achieve-economic-revival/?lang=en
Type of Justification: Perception of a looming economic crisis due to COVID-19
Source of Evidence or Justification: Media
Evidence/Justification: The economy had ground to a halt due to the COVID-19 and its curfews / lockdowns