The National movement for Social Justice (NMSJ) said that it is gravely concerned about a number of actions taken by the Ranil Wickremesinghe administration in recent days.NMSJ chairman, former Speaker, Karu Jayasuriya said that it is their belief that the arrests of Joseph Stalin, the General Secretary of the Ceylon Teachers’ Union, Palitha Atampola and […]

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 […]

Calls for unity in a country torn apart by nationalism and monetary instability

by Jayampathy Molligoda Inflation is too high in Sri Lanka; people are finding it unbearable. How can we control the inflation from further slipping? Singapore experience and structure of our CBSL:  Singapore has the Monetary Authority Singapore (‘MAS’) as their Central Bank, where in Sri Lanka, we have the Central Bank of Sri Lanka (which […]

By Kalinga Tudor Silva One of the important ways, the current economic crisis in Sri Lanka has directly impacted our lives is having to go through long and seeming unending queues, to access petrol, diesel, kerosene and even our dear passports. Queues have multiplied, sprung up on either side of the road and across the […]

By Anupama Rajput Sri Lankan Lawmakers voted in acting President Ranil Wickremsinghe as the new President on July 20. The six-time Prime Minister was able to garner 134 votes in the 225-member parliament, despite public anger with the ruling elite in the hope that his long experience in government could help pull the country out […]

The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor that is contributing to the current crisis and the resultant hardships is the lack of foreign exchange liquidity in the banking system. Such shortage of […]

We need to only remind ourselves of what happened to Greece and China (KMT) - D S Sennayake

Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]

Global un-employment set to rise

By Sanath Nanayakkare There is still possibility for Sri Lanka to arrive at a staff level agreement with the International Monetary Fund (IMF) by August 2022 to qualify for an extended fund facility, but the new government will need to demonstrate its ability to implement the required policies within an agreed upon time frame.” the […]

The government defaulted an interest payment of 78 million US dollar of a sovereign bond on May 19

The Asian Development Bank (ADB) says Sri Lanka’s growth is forecast to contract by 7.6% in 2022 and economic activity will remain subdued in 2023.In its latest Asian Development Outlook Supplement, the ADB said the island nation is beset with multifaceted and deepening challenges emanating from long-standing fiscal and current account deficits that have led to […]

Economic crisis: By Shamindra Ferdinando SLPP MP Dr. Nalaka Godahewa has said that some of those members of Parliament, with expertise in financial matter, recently reached, what he called, an initial consensus on an economic recovery plan.The Gampaha District MP declared that a range of proposals, made by interested parties, outside the Parliament, too, had been […]

An efficient mechanism is required to guarantee that disclosures made at parliamentary watchdog committees on the basis of Auditor General’s reports are used to further investigate and prosecute wrongdoers. AG’s reports and observations made by watchdog committees underscore the failure on the part of the Parliament to take effective and punitive measures to curb waste, […]