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Reuters: Banks are getting round new rules intended to make a still vulnerable industry safer while countries are distracted by the continuing financial crisis, the International Monetary Fund said on Tuesday. The IMF’s latest Global Financial Stability Report said banks will adjust
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, ...
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 ...
CAIRO (Reuters): Egypt has formally requested a $4.8 billion loan from the International Monetary Fund, a spokesman for its president said on Wednesday during a visit to Cairo by IMF chief Christine Lagarde to discuss support for the country’s ailing economy. Egypt’s finance minister
Reuters: The International Monetary Fund on Monday raised concerns over the resignation of the Head of the Securities and Exchange Commission ilak Karunaratne, observing that the regulator had been taking the right steps to ensure market participants obeyed the rules. “It is sad
By Cassandra Mascarenhas The technical sessions of the Association of Professional Bankers’ 24th anniversary convention were held yesterday, bringing the APB’s flagship event to a close. Aptly themed ‘Sustainability in volatility: The bankers’ challenge,’ each technical session explored an area that could throw obstacles in the path of bankers and the line-up of speak...
Monetary Fund, presented a plan for more spending this year, a ...
By Chamitha Kuruppu The Janatha Vimukthi Peramuna (JVP) on Wednesday stated that the time has come for the public to “stand against the irresponsible decisions and unwise acts of the Finance Minister and the Central Bank Governor that leads this country into an economic downfall.” President Mahinda Rajapakse as the Minister of Finance and Central ...
The Central Bank is expected to keep interest rates steady for a fourth straight month on Tuesday as a spike in inflation to a 42-month high complicates its efforts to bolster cooling growth. All 11 analysts polled by Reuters expected repurchase and reverse repurchase rates to be left unchanged at 7.75% and 9.75% respectively. Both ...
Reuters: China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund said in a report on Wednesday that urged further reform and currency appreciation to rebalance growth and reduce risks. The report said economic reforms
By Uditha Jayasinghe Following the end of the US$ 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 ...
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 ...
Reuters: China, Europe and Britain loosened monetary policy in the space of less than an hour on Thursday, signalling a growing level of alarm about the world economy, although suggestions of coordinated action were played down. Of the three, the surprise move was from Beijing which lowered its lending rate by 31 basis points to ...
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
China demand for coal, iron ore expected to drive market Average capesize earnings to rise to $12,400 in H2 Panamax earnings seen increasing to $11,000 SINGAPORE (Reuters): The Baltic Exchange’s Dry Index, an indicator of global economic activity, will rebound by 35 percent in the second half of 2012 versus the last six months on ...
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...
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 ...
Political parties supporting Greece’s international bailout begin forging a government on Monday after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro and brought relief to global markets. Conservative New Democracy leader Antonis Samaras called for broad support after winning Sunday’s election over the Syriza party, wh...
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 ...
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. ...