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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 ...
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
Reuters: The Central Bank is expected to keep interest rates steady for a fifth straight month on Tuesday despite high inflation to help bolster economic growth, which has been cooling due to sweeping policy measures and an extended drought. Twelve out of 13 analysts polled by Reuters expect the repurchase and reverse repurchase rates to ...
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
Sri Lanka’s stock market, once a darling of investors, has seen its value plummet 26% in the past year and now faces a crisis of confidence after its regulator quit in a storm of controversy. The tiny bourse became the world’s top gainer soon after the country ended decades of ethnic war, but three years later ...
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
Reuters: The International Monetary Fund on Monday raised concerns over the resignation of the Head of the Securities and Exchange Commission ilak Karunaratne, observing that the regulator had been taking the right steps to ensure market participants obeyed the rules. “It is sad
By Cassandra Mascarenhas The technical sessions of the Association of Professional Bankers’ 24th anniversary convention were held yesterday, bringing the APB’s flagship event to a close. Aptly themed ‘Sustainability in volatility: The bankers’ challenge,’ each technical session explored an area that could throw obstacles in the path of bankers and the line-up of speak...
Monetary Fund, presented a plan for more spending this year, a ...
The Central Bank is expected to keep interest rates steady for a fourth straight month on Tuesday as a spike in inflation to a 42-month high complicates its efforts to bolster cooling growth. All 11 analysts polled by Reuters expected repurchase and reverse repurchase rates to be left unchanged at 7.75% and 9.75% respectively. Both ...
(Reuters) - The International Monetary Fund has urged Sri Lanka to focus more on sales to India and China to boost its faltering exports and support economic growth. Sri Lanka's exports accounted for 17.8 percent of gross domestic product last year, slumping from 33 percent in 2001
By Uditha Jayasinghe Following the end of the US$ 2.5 billion Stand-By Agreement, the International Monetary Fund (IMF) remains upbeat about the Sri Lankan economy and further collaboration will be finalised later this year, an official said yesterday. The IMF transferred the final tranche
COLOMBO (Reuters): Sri Lanka’s rupee gained 0.6 percent against the dollar on Monday to its highest level since mid June on inflows into government bonds and IMF approval to disburse a $415 million loan tranche, dealers said. The rupee closed at 130.90/131.10 against the dollar, its strongest since June 11, and firmer than Friday’s close ...
Monetary Fund (IMF) today completed the eighth and final ...
The International Monetary Fund (IMF) on Friday cleared Sri Lanka’s final tranche under the Stand-By Arrangement (SBA), approving a disbursement of US$415 million, and making it a final sum total of $2.5 billion.The Fund however noted that there is a slowdown in economic activity and declining
Needs to pay $ 4.9 b to China for total loan of $ 2.96 b China, ADB leading lenders, Western loans low Govt. has borrowed $ 5 b through five euro bonds Reuters: Sri Lanka will have to repay more than $ 15 billion to foreign lenders such as China and the Asian Development Bank ...
The Central Bank yesterday kept policy rates unchanged for the third consecutive month, largely on the confidence that recent measures taken have had desired stabilising effect so far. In its statement following Tuesday’s July Monetary Policy Review, the Central Bank said inflation, as measured by the year-on-year change in the Colombo Consumers’ Price Index, increased ...
Sri Lanka has succeeded in reaching the economic targets expected by the International Monetary Fund. Central Bank Governor Ajith Nivard Cabral said that the IMF had made this reference during a visit to Sri Lanka before the granting of final tranche. Mr. Cabral said that Sri Lanka has met all June
Reuters: Sri Lanka has met all June-end targets set by the International Monetary Fund (IMF) for the last tranche of a $ 2.6 billion loan, Central Bank Governor Ajith Nivard Cabraal said on Friday. “We have met all the targets. Net domestic financing, net internal reserves and reserve money
Reuters: The Sri Lankan rupee edged higher on Friday a day after it hit a record low, as exporters and a state bank sold dollars to buy the local currency in thin trade, dealers said. The rupee closed at 133.50/70 to the dollar, a tad firmer from Thursday’s close of 133.80/90. It hit a fresh ...
By Uditha Jayasinghe As the rupee weakened further, the United National Party (UNP) yesterday discharged a fresh salvo against the Government’s economic management, insisting that the rupee’s decline was being “militaristically controlled” and called for greater transparency. Referring to reports that banks stopped quoting spot prices after what dealers said w...
Sri Lanka should be careful about the inflationary effects of liquidity created by large foreign exchange swaps with the Central Bank, an International Monetary Fund official said.
7.2% by Govt. adjusted to 6.75%; puts inflation at 9.5% but lauds policy changes Confirms continued engagement being discussed, says more funds possible Final tranche of $ 2.6 b goes before IMF Board in July By Uditha Jayasinghe The International Monetary Fund (IMF) yesterday
Reuters: Sri Lankan shares rose on Friday as investors snapped up blue-chip companies, helping the main index recover. The Colombo Stock Exchange’s main index closed 1.4 per cent or 68.19 points firmer to end at 4,991.21, its highest since 25 May. “The market has fallen too much and now it is trying to correct itself,” ...
Reuters: Sri Lanka may need to consider easing monetary policy if trade data for May and June point to significant weakness in global demand for the island’s goods, the Treasury Secretary told Reuters on Thursday. A further export slowdown would put additional pressure on the economy as domestic demand has already shown signs of cooling ...
Sri Lankan government has had discussions with the International Monetary Fund (IMF) for fresh financial assistance, which will be discussed in detail in September, IMF officials said. "There's a possibility of (IMF) extending further financial assistance - similar to the current Stand
Reuters: Sri Lankan stocks jumped 1.6 per cent on Thursday to a more than three-week high on institutional buying of blue-chips stocks like John Keells Holdings PLC in an oversold market after the central bank kept policy rates steady. The Central Bank held the key policy rates unchanged on Wednesday. The main index rose 1.61 ...
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 rupee recovered 0.5 per cent on Wednesday after hitting a record low the previous day as exporters sold dollars, traders said. The rupee closed at 131.90/132.10 against the dollar from Tuesday’s close of 132.40/70. It hit all time low of 133.60 on Tuesday, surpassing the previous record of 133.00 reached on 25 April. ...
A team of officials from the International Monetary Fund (IMF) is to arrive in Sri Lanka next week to review the country’s economic conditions before disbursing the final tranche of the US$ 2.6 billion Stand-By Agreement (SBA), Government officials said. The review is scheduled to commence