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[…]The post A Child’s Guide To Currency Boards: Why Did Ceylon Give Up The Currency Board, While Singapore Didn’t? appeared first on Colombo Telegraph.
Prime Minister Ranil Wickremesinghe today painted a gloomy picture for Sri Lanka saying the country will face an even more difficult time period in the short term. In an address to the nation today, the Prime Minister said that there are petrol stocks only for a single day, there is a possibility that the daily power […]
[…]The post The Story Of The Occasional Cinemagoer: Part II appeared first on Colombo Telegraph.
Sri Lanka has been facing a severe economic crisis since the beginning of 2021 and was trying to cushion the effect of the financial instability by seeking help from almost all friendly countries. Sri Lanka sought the intervention of the good offices of the political hierarchy of Bangladesh and Pakistan, apart from India, for much-needed […]
[…] The post Lack Of Accountability, Ability & Credibility appeared first on Colombo Telegraph.
[…] The post An Exit Strategy From The Crisis: Agenda For Shared Revival Of Sri Lanka appeared first on Colombo Telegraph.
22-04-2022, Amsterdam: In the latest series of EFSAS interviews, Mr. Junaid Qureshi (Director EFSAS) welcomed virtually Professor Mick Moore, a highly regarded political economist and professorial fellow at the Institute of Development Studies at the University of Sussex. He is also the founding CEO of the International Centre for Tax and Development and was appointed […]
Although the Asian region is better prepared for economic turmoil than it was a decade ago, high levels of financial, trade and investment integration with the Western economies ensure that no country is immune to the effects of the Eurozone debt crisis. While most of the European Union (EU) economies struggle to design new austerity measures to ...
When one reads the lead story published on the business pages of this newspaper in its last week edition, one realizes that Sri Lanka faces a serious governance issue right at the top. The article basically raised three issues: 1. Politicians have had invested in the bourse last year, that’s the reason for their vested ...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
Rising inflation coupled with state owned Central Bank of Sri Lanka’s (CBSL’s) huge stock of Treasury (T) Bills holdings helped T Bill yields to continue to make gains at last week’s T Bill auction as well. As a result, the weighted average yields for T Bills of all three tenures, namely 91, 182 and 364 ...
Offers $ 43 b in overall deal which will see Fund’s base doubling to $ 456 b Reuters: China on Monday offered $43 billion to the IMF’s crisis-fighting reserves, rounding off a global push to nearly double the Fund’s war chest to $456 billion to help protect countries from fallout from the euro zone debt ...
This country’s history is repeating itself with deadly accuracy. Last week Gotabaya Rajapaksa reiterated what Sinhalese leaders have been saying since the parting of ways with the Tamils in 1958. In an interview with the BBC on Monday (May12) Rajapaksa was asked about ‘a recent local government reshuffle in the north which has seen some ...
The economy grew at 8.3% last year, the highest-ever pace, up from 8.0% in 2010. Per capita income went up from US$ 2,400 to $ 2,836. Fine, but we need to ask two questions: What are the costs incurred? Is this growth sustainable? Before that, a word of caution regarding the interpretation of Gross Domestic ...
Reuters: Fresh from a big victory in raising $430 billion for the International Monetary Fund, Christine Lagarde’s tougher test as head of the global lender will be finding a way to give emerging economies more influence. To do this, the former French finance minister will need to convince the Fund’s dominant powers – the United ...
The challenges Sri Lanka has to face in its march towards development are manifold. Although the war has ended the wrong political ideologies, the proposals and timetables it created are still in operation. By Government Information Department Additional Director General Chandrapala Liyanage Similarly, various social activity groups and individuals and organisations operating under the advice ...
Parliamentary accountability The Parliament, as the country’s foremost representative institution, has the sole authority over national resources and financial allocations and concurrently has a prominent role to play in fiscal responsibility, the budgetary process, economic development and effective transparent economic and financial management, with a view to assuring sustainable growth an...
Citizens should make a noise The Central Bank’s former Assistant Governor and its long-time Director of Statistics, Dr. Anila Dias Bandaranaike, at a recently held exporters’ forum, expressed the view that the business community should make it their business to discuss, debate and deliver their views on economic policies being formulated by the country’s policy ...
TOKYO: Japan and 12 other Asian countries will likely agree to double the amount of funds available under a regional currency swap pact amid uncertainty over the European debt crisis, a report said Sunday. Japan, China, South Korea and the 10 members of the Association of Southeast Asian Nations (ASEAN) are to agree to double ...
SRI LANKA’S fabled post-war window of opportunity seems to be closing, with the Central Bank following the International Monetary Fund (IMF) in reducing growth rates for 2012. But does that mean only gloom awaits Sri Lanka or can we ride out the tide and reach the golden shores? The Central Bank had originally forecast this ...
By Dr. Arujuna Sivananthan The consensus view is that Sri Lanka is in the midst of a Balance of Payment (BOP) crisis. It usually follows a period of large capital inflows and rapid economic growth. However, due to conflicting policy responses or policy slippage including irresponsible credit creation, an economy finds itself in a position ...
Tyranny of the international capital markets Dr. Indrajit Coomaraswamy, ex-Central Banker and International Civil Servant, did not mince words when he addressed the country’s exporters last week. The veteran economist, having made an assessment of the risks associated with Sri Lanka’s external sector crisis, warned that the country will have to grapple with “the tyranny ...
CB says will intervene in high volatility Dealers say CB employing moral suasion By Shihar Aneez and Ranga Sirilal COLOMBO (Reuters): Sri Lanka’s rupee hit a new record low on Tuesday on importer dollar demand, but a State bank sold greenbacks to reverse the drop in an apparent break with the Central Bank’s new policy ...
Reuters: China will continue to invest in euro zone government debt, the country’s central bank governor said on Wednesday, while calling on Europeans to produce more attractive investment products for China. Zhou Xiaochuan admitted that China and other emerging nations like Brazil, Russia or India were waiting for the right time to help the bloc, ...
Reuters: The International Monetary Fund (IMF) on Friday welcomed Sri Lanka’s policy shift towards a flexible exchange rate, saying it will help contain the trade deficit and protect the nation’s dwindling foreign exchange reserves. In a marked policy shift, Sri Lanka’s Central
Reuters: China is considering increasing its participation in the rescue funds aimed at resolving the European debt crisis, Chinese Premier Wen Jiabao told journalists on Thursday. But Wen did not make any explicit financial commitments for the European Financial Stability Facility (EFSF) or the upcoming European Stability Mechanism (ESM). At a joint media briefing in ...
Reuters: Sri Lanka and the International Monetary Fund (IMF) meet this week amid a standoff over the Central Bank’s defence of the rupee currency, which has cost $ 2.6 billion in foreign exchange reserves since July – the same amount the global lender has pledged to loan. Bucking
Treasury (T) Bill weighted average yields (WAYs) at last week’s weekly primary auction remained unchanged for the third consecutive week, last week, but those are not market determined yields, a market source told this reporter. Even in the case of US Treasuries, yields move at least one or two basis points (bps) up or down, ...
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 ...