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Views of Milton Friedman, Robert Mundel and how John Greenwood and Alan Walters set up the Hong Kong currency board
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Global rating agency Standard and Poor’s has lowered the long-term foreign currency sovereign credit rating on Sri Lanka to “SD” (selective default) from “CC” as the crisis-hit Island nation missed an interest payment on bonds. On April 18, Sri Lanka missed interest payments on its $1.25 billion international sovereign bonds maturing in 2023 and 2028. “We do […]
By Cassandra Mascarenhas The third and final day of the Sri Lanka Economic Summit 2012 organised by the Ceylon Chamber of Commerce commenced with a plenary session titled ‘Skills and Productivity to Compete in the Global Market,’ which discussed the initiatives that are underway and aimed to identify additional steps required to improve the quality ...
By Cheranka Mendis The tea industry’s export target of achieving revenue of US$ 5 billion from the present US$ 1.5 billion by 2020 is an overly ambitious one that is likely to be impossible to achieve, Colombo Tea Traders Association Chairman Jayantha Keragala said on Friday at the association’s 118th AGM. Keragala stated that the ...
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
Central bank Governor says country is targeting per capita income of $4,000 by 2015Ajit Nivard Cabraal is a man intimately associated with the economic development of Sri Lanka. Well before he became the Governor of the Central Bank of Sri Lanka, in 2006, Cabraal was the chief economic adviser to President Mahinda Rajapaksa, who was ...
Performance has always been a buzz word in business circles. This time of the year is the typical time for a wave of performance appraisals, particularly in organisations where the appraisals are linked to the calendar year. There is a strong link between performance and perceptions. Today’s column will discuss the what, how and why ...
BMI’s prediction of a second devaluation of the Sri Lankan rupee played out on February 14, with the currency ending the day at LKR120.13/US$ – marking a 5.4% drop from when we called such a move in our online service on January 30. At one stage on February 15, the rupee diced with a record low
The Central Bank of Sri Lanka recently unveiled its pioneering Sixth Strategic Plan – communicating in all transparency its plans for the forthcoming financial period – based on the theme ‘Raising the Bar’. The Sixth Strategic Plan, like its predecessors, takes root from the policy measures underscored in the ‘Mahinda Chinthana,’ and is formulated to ...
The Standard Chartered Bank (SCB) has opined the Central Bank’s forecast of $ 25 billion foreign inflow as “optimistic” given external headwinds whilst cautioning that pressure was mounting on the rupee given the rising import demand. This view along with weaker GDP forecast is contained in SCB's latest country update titled 'A challenging year ahead' ...
Research issue Sri Lanka’s growth cannot be examined in isolation. This is because its economy is intricately interwoven to its neighbours and other countries through commercial, political and cultural links. The sustainability of any growth strategy adopted by the country will depend on the stability of different partnerships and the ability of the country to ...
MP charges that Government is focusing only on physical infrastructure and adopting a top-down development approach instead of a more inclusive and participatory humane political futureUnited National Party Parliamentarian Eran Wickramaratne asserts that the Government is depleting the resources of the municipality on an election extravaganza. In a candid interview with the Daily FT, the ...
By Simon Montlake Forbes.com: On my first trip back to Sri Lanka since February 2010, I noticed plenty of positive changes. New construction, cleaner streets and a lighter security presence (a bloody civil war ended in May 2009). The IMF predicts Sri Lanka’s economy will expand this year by 7.5%, keeping pace with next-door giant ...