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A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country. What is volatility? Volatility is the severity and the frequency with ...
WASHINGTON, (Reuters): Singapore’s economy is set to weaken this year on the back of weaker global demand and related international financial and trade strains emanating from the euro zone debt crisis, the International Monetary Fund said on Monday. “Under the benign global baseline
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
Reuters: The Central Bank said on Friday that despite heavy depreciation pressure on the rupee, there was no need to intervene in the market as the country would see $ 574 million of inflows within a month. On Friday, the currency was trading near its record low of 131.60 per dollar, hit on 19 March ...
Bloomberg: Sri Lanka is keen to complete its current program with the International Monetary Fund and expects a further tranche release after the next review, even as the island nation “is not pressed for foreign exchange,” Sarath Amunugama, Minister for International Monetary
Highly confident Central Bank outlines ambitious forecasts for 2012 and beyond 2011 GDP growth at record 8.3%; 2012 outlook revised to 8% from 9% previously Eyes over $ 25 b inflows in 2011 Low interest rates helped to reduce Govt. expenditure by Rs. 15.5 b CB profit transfers to Government over Rs. 46 b between ...
Yet again proving its resilience amidst global shocks and the recession in the West, the country’s economy in the third quarter has grown by 8.4%, a rate viewed by analysts as faster than expected. The high 8.4% growth in Gross Domestic Product (GDP) was above the 8% achieved in the corresponding period of last year. ...
Reuters: Sri Lanka’s Central Bank can continue to maintain the rupee exchange by selling dollars from the foreign reserves as it expects large dollar inflows in the coming months, the Central Bank Governor said on Tuesday. The rupee was devalued three per cent on 22 November, a day after President Mahinda Rajapaksa in his capacity ...
International Consultants Chairman Ranjiv Goonawardena had kindly invited the Sri Lanka Tourism Promotion Bureau to participate by showcasing the great opportunity that Sri Lanka has to offer, at the Islamic Real Estate Finance (IREF) Summit and Gala Dinner Awards Ceremony of which it was a sponsor. International Consultants sponsored for the second year the ninth ...
The rupee trading froze on Monday after President Mahinda Rajapaksa announced a surprise three per cent devaluation with immediate effect in the 2012 Budget speech to help exporters and cut import costs. Central Bank Governor Ajith Nivard Cabraal said the devaluation would take effect from Tuesday, but assured that there wouldn’t be any further cut ...
Addressing members of a visiting high-powered Vietnamese business delegation on Friday 14 October, at Hotel Galadari, Colombo Minister of Industry and Commerce Rishad Bathiudeen invited Viet Nam delegations to Sri Lanka Expo 2012, and suggested that Vietnamese businesses use the Indo Sri Lanka Free Trade Agreement and the Pakistan Sri Lanka Free Trade Agreement as ...
Arguably the world’s most powerful leader, Barak Obama, underscored that the Eurozone crisis is “scaring the world”. It comes as no surprise then that his Treasury Secretary Tim Geithner heads the international clamour for more action to solve the burgeoning sovereign debt problem that has dominated financial markets in recent times. George Osborne, Britain’s current ...
More inflows into service, capital, financial accounts, says CB Rupee was under pressure due to heavy imports in Aug., Sept. Currency dealers wary on rupee stability By Shihar Aneez Reuters: Pressure on Sri Lanka’s rupee currency will recede in coming months due to increasing inflows into the country’s service, capital and financial accounts, the Central ...
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 ...
In its march towards development, Sri Lanka is still seeking the assistance of bilateral and multilateral organisations as well as greater input from foreign investors, Governor of the World Bank Group and International Monetary Fund for Sri Lanka, Senior Minister for International Monetary
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...
SYDNEY (AFP): Australian Treasurer Wayne Swan on Wednesday urged European nations to “get their act together” as the International Monetary Fund released dire new predictions for the global economy. Named the world’s best finance minister by Euromoney magazine overnight due
by Darini Rajasingham Senanayake On 4 February, Sri Lanka celebrated its 63rd birthday. After nearly three decades of armed conflict, it is now one of Southasia’s calmest and fastest-growing countries. Its social indicators, apart from the northeast zone, remain the...
The International Monetary Fund says economic conditions have shown remarkable progress with low inflation, which is expected to remain in single digits for the year, strong external balances, a high rate of remittance inflows, comfortable levels of gross reserves and rapidly improving tourism
By GABRIELLA STERN NEW YORK -- Sri Lanka's president said Wednesday that rising labor costs in China present an opportunity for his South Asian country to attract foreign companies seeking an alternative low-cost manufacturing base....
The International Monetary Fund is optimistic that Sri Lanka will be one of the World’s high fliers in terms of growth in the coming quarters. Sri Lanka’s economy advanced by 8.5 percent during the second quarter of this year based on the success recorded in several sectors of the economy
A visiting International Monetary Fund (IMF) mission in Sri Lanka to review its programme in the country expressed satisfaction over the progress of the Sri Lankan economy. The mission said today (23) that it could make the necessary recommendation to release the next tranche of US$ 200 million
June 16, 2010: 11.00 am Siobhain McDonagh: (Mitcham and Morden) (Lab): I am grateful for the chance to highlight again the appalling treatment of Tamil civilians by the Sri Lankan Government....
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