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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 […]
Newly-appointed Finance Minister Miftah Ismail on Wednesday said the International Monetary Fund (IMF) wanted Pakistan to take a number of steps to do away with subsidies extended by the previous government, including raising fuel price and power tariff, to revive its Extended Fund Facility (EFF). The fund had set a series of prior conditions involving […]
Foreign Exchange Reserves in Sri Lanka increased to 935708.40 in July of 2012 from 805876.40 in June of 2012, according to a report released by the Central Bank Of Sri Lanka. Historically, from 1975 until 2012, Sri Lanka Foreign Exchange Reserves averaged 132788.44 reaching an all time
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 ...
In the last 15 years, the major hospitals invested over Rs. 50 billion by way of total expenditure to increase capacity building within the private healthcare sector by investing in necessary infrastructure, cutting edge technology and continuous development in human capital in the clinical discipline. The centres have created several hundreds of employment opportunities with ...
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from 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 ...
Sri Lanka has met the monetary and fiscal targets set forth by the IMF for the quarter ended 30.6.12., IMF’s Resident Representative in Colombo Dr. Koshy Mathai told a forum here on Wednesday. Those also include the net reserve target (ie Government of Sri Lanka’s (GoSL’s) foreign exchange
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 $456 billion to help protect countries from fallout from the euro zone debt ...
This country’s history is repeating itself with deadly accuracy. Last week Gotabaya Rajapaksa reiterated what Sinhalese leaders have been saying since the parting of ways with the Tamils in 1958. In an interview with the BBC on Monday (May12) Rajapaksa was asked about ‘a recent local government reshuffle in the north which has seen some ...
Fitch Ratings has affirmed Sri Lanka’s Foreign- and Local-Currency IDRs at ‘BB-’. The Outlook for both the ratings is Stable. The Country Ceiling has also been affirmed at ‘BB-’, and the Short-Term Foreign Currency IDR at ‘B’. “The ratings reflect Fitch’s view that the authorities have taken the appropriate action to correct recent pressure o...
The economy grew at 8.3% last year, the highest-ever pace, up from 8.0% in 2010. Per capita income went up from US$ 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 ...
Reuters: India’s foreign exchange reserves rose to $ 293.141 billion as of 13 April from $ 292.9 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly statistical supplement. Changes in foreign currency assets, expressed in dollar terms, include the effect
and shore up foreign exchange reserves, which had been drained owing largely to ...
ISLAMABAD (Reuters): Pakistan’s foreign exchange reserves rose to $16.51 billion in the week ended 30 March, from $16.44 billion in the previous week, the Central Bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) rose to $ 11.84 billion from $ 11.77 billion a week
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...
DHAKA (Reuters): Bangladesh’s central bank chief urged private sector entrepreneurs on Thursday to seek loans from foreign sources, saying such credit would be cheaper and more readily available. “We have allowed the local corporates to borrow about $600 million (this financial year) from foreign sources,” Governor Atiur Rahman said. “I would really suggest you to ...
Reuters: Sri Lanka's rupee closed a tad firmer on Friday on light inflows from worker remittances and low importer dollar demand a day after the island nation's treasury secretary forecast the currency would strengthen to at least 125, dealers said. The rupee closed at 130.00/130.10 a dollar, edging up from Thursday's close of 130.10/130.30. It ...
Rupee to strengthen to at least 125/dlr-Treasury sec Dealers wary of rupee rebound as CB buys dollars Stock market down; foreign outflow at Rs. 10.4 m Reuters: Sri Lanka’s rupee closed a tad firmer on Thursday after the island nation’s treasury secretary forecast the currency would stabilise at 125 to the dollar, dealers said. An ...