SRI LANKA AND IRAQ

VIKRAMJEET SINGH 4111047047

Sri Lanka
The Gross Domestic Product (GDP) in Sri Lanka worth 59.17 billion US dollars It represents 0.10 percent of the world economy From 1960 until 2011, Sri Lanka GDP averaged 11.4 USD Billion The GDP per capita is 1402.12 US dollars

 Sri Lanka GDP Growth Rate averaged 6.4% The main sectors of the economy are tourism, tea export, apparel, textile and rice production The total population in Sri Lanka was last recorded at 20.9 million people Current unemployment Rate is 4.10%

 The inflation rate in Sri Lanka was recorded at 9.80 percent in February of 2013 The benchmark interest rate is 7.50% Foreign Exchange Reserves is 874510.80 LKR Million Interbank Rate is 11.41% Personal Savings in Sri Lanka is15.4%

Money Supply
Money Supply M0 is 303095 LKR Million Money Supply M1 is450049 LKR Million Money Supply M2 is 2593185 LKR Million Sri Lanka recorded a Government Budget deficit equal to 6.20% of GDP Its trade deficit of 641.20 USD Million Its CAD is 7.80% of GDP Standard & Poor's credit rating for Sri Lanka stands at B+

Financial System
The financial system in Sri Lanka comprises the major financial institutions, namely the Central Bank of Sri Lanka Licensed commercial banks (LCBs) Licensed specialised banks (LSBs) Licensed finance companies (LFCs) Specialised leasing companies (SLCs)

Primary dealers (PDs) Pension and provident funds Insurance companies Rural banks, stock brokers, Securities market intermediaries, Unit trusts ad thrift and credit co-operative societies

Regulatory Authorities
Central Bank of Sri Lanka The regulation and supervision of banking institutions is mainly governed by the Monetary Law Act No.58 of 1949 ,the Banking Act No.30 of 1988 and the Exchange Control Act No. 24 of 1953 The regulation and supervision of finance companies is undertaken in terms of the Finance Business Act, No 42 of 2011

 The regulation and monitoring of finance leasing establishments is conducted under the Finance Leasing Act No.56 of 2000 The regulation of supervision of primary dealers in government securities is carried out in terms of the Local Treasury Bills Ordinance No.8 of 1923 and the Registered Stocks and Securities Ordinance No.7 of 1937

FDI
Sri Lanka FDI is 2 billion U.S dollars Much of this FDI originated from countries in the Far East Bilateral Affairs Indo-Sri Lanka Free Trade Agreement (ISFTA) Pakistan Sri Lanka Free Trade Agreement (PSFTA) Comprehensive Economic Partnership Agreement (CEPA)

Multilateral Trade
The Generalized System of preferences (GSP) The Agreement on SAARC Preferential Trading Arrangement (SAPTA) The Asia-Pacific Trade Agreement (APTA), formerly known as Bangkok Agreement The Agreement on South Asian Free Trade SAFTA SAARC Agreement on Trade In Services (SATIS)

 Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation Free-Trade Area Framework Agreement (BIMSTEC)

Central Bank of Sri Lanka

The Central Bank of Sri Lanka is the monetary authority of Sri Lanka It was established in 1950 The bank is responsible for the conduct of monetary policy and supervisory powers over the financial system The Monetary Board is the highest policy making body in the Central Bank

IRAQ
Gross Domestic Product (GDP) 115.39 billion US dollars

GDP value of the world economy

GDP Growth rate Population Unemployment Rate

0.19 percent
8.58 percent 33.0 million 16 percent

Birth rate
Death rate Inflation rate

28.19 births/1,000 population

4.73 deaths/1,000 population 6.4%

Budget Surplus Current Account surplus Exports Imports Reserves of foreign exchange and gold

4.5% of GDP $20.63 billion $88.27 billion $56.89 billion $61.84 billion

Benchmark interest rate

6 percent

 Location Middle East, bordering the Persian Gulf, between Iran and Kuwai Area Total: 438,317 sq km Government type Parliamentary democracy

 Organization of the CBI

Department of Investment Department of Accounting Department of Exchange

State-Owned Banks
Rafidian Bank Rasheed Bank Specialized Credit Banks like the Agricultural Bank, the Industrial Bank, the Real Estate Bank, and the Socialist Bank

 Middle East Bank Islamic Bank

Privately Owned Banks

Bilateral and Multilateral Agreement The trade between the two countries has increased from USD 5.7 billion in 2006-07 to USD 9.7 billion in 2010-11 The main export items from India include metals, electronic goods, basmati rice, meat and machinery, while imports include crude, fruits and nuts, sulphur, wool and chemicals

 India-Iran trade in 2010-11 was US$ 13.4 billion (Indian exports US$ 2.5 billion and imports US$ 10.9 billion) Indias exports to Iran include rice, machinery & instruments, metals, primary and semi finished iron & steel, drugs/pharmaceuticals & fine chemicals, processed minerals, manmade yarn & fabrics, tea, organic/inorganic/agro chemicals, rubber manufactured products, etc.

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FDI
The government dictates most production and investment activity and derives most of its revenue from the oil sector The ambience is not good for privately held company and sanctioned by regulatory environment The threat of government expropriation remains high

Central Bank of Iran

Established in 1960 The President of Iran proposes a person as the governor of CBI, who must be verified by the general assembly and appointed as per a presidential decree Current Governor Mahmud Bahmani (Since 2008)