A recent press report in Sri Lanka claimed the central bank plans to introduce a central bank digital currency (CBDC) this year. However, while the central bank hopes to start exploring a CBDC, we do not believe a specific date was provided.
On January 10, the Governor of the Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe, gave a speech outlining financial sector policies for 2024 and beyond. He made no mention of a central bank digital currency.
On the same day, two central bank executives presented to the Parliamentary Committee on Ways and Means. The talks included basic details about blockchain, cryptocurrency and CBDC. At one point, the leader of the Committee interrupted the CBDC talk, asking whether there was a timeline for a CBDC in Sri Lanka or an action plan.
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