Some of Sri Lanka’s official creditors are advocating for a debt restructuring agreement that excludes China, Bloomberg reported on Thursday (28.) This move, if successful, could have implications for how wealthier nations handle financial stress in developing economies. The proposal involves major creditors, including the US, Japan, and India, signing a memorandum of understanding with [...

“…countries that won a war but ‘lost the peace’: gratuitously wasting the opportunities afforded them by their victory” Tony Judt (Reappraisals) By Tisaranee Gunasekara Creating incredible illusions to conceal insupportable realities is the Rajapaksa way. In this dystopian world, zero equals 8,000+; when prices go up, inflation comes down and people just love political deprivation ...

Last week’s My View talked about six popular fallacies of currency or exchange rate appreciation which both the authorities and the public have tended to harbour in themselves. Of them, the following three were discussed in detail: Fallacy One: The government can fix the external value of a currency at any level it wishes. Fallacy ...

Gives comprehensive address highlighting issues of developing countries Shoots down discriminatory practices by developed countries Outlines post-war development, reiterates stance against terrorism Backs Palestine, Cuba and Africa By Nisthar Cassim in New York In his much-anticipated address to the UN, President Mahinda Rajapaksa yesterday took a comprehensive local, regional and world view, with...

By Dinali Goonewardene As stock markets the world over strongly slid downwards on fears of slowing economic growth, foreigners took their money out of the Colombo stock market yesterday, contributing to a seven-week low. Foreign sales were Rs. 70 million and net foreign outflows Rs. 21.8 million, albeit a relatively low component of total turnover. ...

Aug 01, Colombo: The A Singapore-based international arbitrator has dismissed a Citi Bank claim against Sri Lanka's state-owned Ceylon Petroleum Corporation (CPC) on the payment of soured hedging deal, Reuters report said citing anonymous sources .