📈 COPF Approves CBSL Data & Export Conversion Rules; Raises Debt Data Concerns

The Committee on Public Finance (COPF) has approved new rules under the Central Bank of Sri Lanka (CBSL) Act, while flagging critical data gaps in public debt and tourism reporting. Key Approvals & Regulatory Shifts • Data Collection: Approved rules granting designated CBSL officials the authority to collect specific statistics from external parties to aid monetary policy formulation, complete with data privacy safeguards. • Export Proceeds: Approved the "Repatriation of Export Proceeds Rules No. 2 of 2026." Exporters must now convert remaining foreign balances into rupees by the 10th day of the following month, significantly shortening the previous 3-month window. Economic Concerns Raised • Debt Disclosure Gaps: COPF raised concerns over missing government debt statistics following the transition to the Public Debt Management Office (PDMO), urging CBSL to preserve public access to this data. • Tourism Estimates: The committee questioned the accuracy of tourism earnings data, noting that diverse visitor payment channels complicate collection. Better survey methodologies were demanded. • Market Confidence: CBSL cited exchange rate volatility and forex liquidity shortages for the tighter export conversion rules, while COPF cautioned it could harm market confidence. CBSL assured it is a temporary stabilization measure. _Note: Based on official parliamentary briefings._