2018 down from 85th in 2014) and the overall tariff structure. In 1992, Sri Lanka's exports were on par with countries like Vietnam and Bangladesh (at US$2bn), which has only grown to US$12bn by end of 2017 compared to Vietnam's US$214bn and Bangladesh's US$36bn for 2017. Inflation in 2021 Colombo Consumer price inflation 2020 : 4.2% April 2021 : 3.9% Inflation in Sri Lanka measured by the Colombo Consumer Price Index grew 6.0% in the 12-months to August 2021 picking up from 5.7 percent in July. Inflation was 4.2% in the year to December 2020. In 2019 inflation was 4.8 percent. The Department of Census Statistics also compiles a National Consumer Price Index which is released with a delay. Inflation measured by the NCPI increased to 6.8% in July 2021 from 6.1% in June 2021, higher than the central banks target rate Sri Lanka's central bank is targeting inflation at 4-6 per cent in 2021, though the policy will be loose to promote growth. "The Central Bank is of the view that continued support through monetary and fiscal interventions is essential to provide adequate impetus to the economy amidst the challenging domestic and global macroeconomic conditions," Governor W D Lakshman said in January 2021. "Therefore, the Central Bank will continue the prevailing accommodative monetary policy stance in 2021 to ensure the envisaged recovery of economic activity. The Central Bank will continue to remain vigilant but is confident that inflation will remain within the targeted range of 4-6 per cent over the medium-term. But after worsening balance of payments trouble and inflation, rates were hiked in August and the statutory reserve ratio was also raised. Sri Lanka used a 'flexible inflation targeting' framework for monetary policy at least until 2019. In 2020 growth took a priority, Governor Lakshman has said as efforts are made to boost output amid a COVID-19 pandemic. Sri Lanka suffered a US$3.2bn balance of payments deficit in 2020 amid monetary easing. Interest rates – 1 year T bill market rate by June 2019 12 Month T bill to be at 10% by 30 June 2019 The CBSL has reduced its T bill holding significantly from April 2017 to date reversing any monetary stimulated inflationary actions. Thus the resultant liquidity levels in the money market broadly reflect natural market conditions compared to the market that was there a year ago, which reflected more realistic banking sector interest rates