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The Asia Council’s Forum for Economic Cooperation comprising regional leaders from the continent has urged Japan and South Korea to help Sri Lanka tide over the ongoing economic crisis. The island nation of 22 million people is facing an unprecedented economic meltdown with inflation in July hitting a record 60.8% and the country still facing […]
Yields in government securities down for the second day after weekly treasury bill auction
Pure floating exchange rates and a fixed exchange rate with a currency boards are free-market mechanisms
The travel ban imposed on former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa has been extended until 11 August. The Supreme Court extended the travel ban when the case was heard today (Wednesday). A motion had been filed in the Supreme Court seeking an overseas travel ban on Mahinda Rajapaksa, Basil Rajapaksa […]
ECONOMYNEXT – Sri Lanka’s Yupun Abeykoon has bagged the Bronze at the men’s 100 metre event at Commonwealth Games 2022 as his country reels from the worst currency crisis in the history of the island’s 72-year old central bank.Abeykoon won bronze clocking the 100 metres at 10.14 seconds, just behind South Africa’s Akani Simbine at 10.13 percent and Kenya’s Ferdi...
by Chandre Dharmawardana, [email protected]. The forex crisis had forced the government to jettison its initial set of economic managers of the Central bank who looked for home-grown solutions and opposed dealing with the International Monetary Fund (IMF). The President re-instated a set of managers whose ideas were more orthodox and aligned with the neo-liberal bankers […]
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