Author Archive for Economy

Rupee hits record low, IMF urges Sri Lanka to let it slide

Wednesday, June 20th, 2018

Courtesy Mail On Line The International Monetary Fund urged Sri Lanka Wednesday to let its rupee keep sliding and not intervene further to bolster the ailing currency as it fell to historic lows. The currency bottomed out at roughly 160 rupees to the US dollar on Wednesday — its weakest ever point — despite efforts […]

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මෙරට ආර්ථික ඉතිහාසයේ දැවැන්ත ඛේදවාචකයට අපි මුහුණදීලා

Tuesday, June 19th, 2018

ක්‍රිෂාන් පතිරත් ජයසූරිය ඡායා – වෙනුර චන්ද්‍රමාලිත උපුටාගැණීම  මව්බිම වර්තමානයේදී රුපියලට සාපේක්ෂව ඩොලරයේ අගය රුපියල් 162 දක්වා වැඩිවී ඇති බවත් එය අප රටේ ආර්ථික ඉතිහාසයේ දැවැන්තම ඛේදවාචකය වන අතර සිංගප්පූරු – ශ්‍රී ලංකා නිදහස් වෙළෙඳ ගිවිසුම ක්‍රියාත්මක කළහොත් රුපියලට සාපේක්ෂව ඩොලරයේ අගය 200ක් දක්වා වැඩිවීම වැළැක්විය නොහැකි බවත් ඒකාබද්ධ විපක්ෂයේ ආර්ථික කටයුතු පිළිබඳ අංශයේ ප්‍රධානි පාර්ලිමේන්තු මන්ත්‍රි […]

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China allays ‘public fears’ on loans provided to Sri Lanka

Monday, June 18th, 2018

by Sanath Nanayakkare Courtesy The Island June 18, 2018, 8:42 pm Li Jiming, Director General of the Foreign Affairs Office of the Yunnan Provincial Government of China told the foreign media recently that there is no reason for Sri Lankans to fear their country falling into a debt trap because of the Chinese infrastructure loans. He […]

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Sri Lanka Sets Target Of US$200 Million In Boat And Shipping Exports By 2022

Sunday, June 17th, 2018

By Eurasia Review While Sri Lanka’s footprint in global boats and shipping sector is small, exports in the sector continue to surge in strong numbers, and as a result Sri Lanka is ambitiously targeting US$ 200 million boats and shipping exports by 2022, Minister of Industry and Commerce Rishad Bathiudeen says. Global ship and boat building […]

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Sri Lanka is helping Japan contain an increasingly assertive China. Can it afford to?

Sunday, June 17th, 2018

Anne-Léonore Dardenne Courtesy scroll.In Given the island nations’s strategic location, Sri Lanka is courted by almost every country preoccupied with security in the Indian Ocean Region. Reacting to an increasingly assertive China, Japanese Prime Minister Shinzo Abe has looked to expand his country’s influence in the Indo-Pacific. Trips to Pakistan, Sri Lanka, and the Maldives in January […]

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යහපාලන රජය මාසයකට ගෙන ඇති ණය රාජපක්‍ෂ රජය වර්ෂයකට ගත් ණයට වඩා වැඩියි – මහ බැංකුවේ හිටපු අධිපති අජිත් නිවාඩ් කබ්රාල්

Thursday, June 14th, 2018

උපුටා ගැන්ම දිවයින  යහ පාලන රජය එක්‌ මාසයක්‌ තුළ ගෙන ඇති ණය ප්‍රමාණය රාජපක්‍ෂ රජය 2014 මුළු වර්ෂය තුළම ලබාගත් ණයට වඩා වැඩි මුදලක්‌ බවත්, මේ අනුව ඉකුත් මැයි මාසයේදී පමණක්‌ ශ්‍රී ලංකාවේ රාජ්‍ය ණයට එකතු වූ මුළු මුදල රු. බිලියන 842 ක්‌ බවත් ශ්‍රී ලංකා මහ බැංකුවේ හිටපු අධිපති අජිත් නිවාඩ් කබ්රාල් මහතා පවසයි. […]

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Six ways in which Sri Lanka can attract more foreign investment

Wednesday, June 13th, 2018

By Tatiana Nenova/www.infosrilanka@worldbank.org Courtesy NewsIn.Asia Sri Lanka and foreign investments read a bit like a hit and miss story. But it was not always the case. Before 1983, companies like Motorola and Harris Corporation had plans to establish plants in Sri Lanka’s export processing zones. Others including Marubeni, Sony, Sanyo, Bank of Tokyo and Chase Manhattan Bank, […]

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How to reduce taxes: JO accepts PM’s challenge

Tuesday, June 12th, 2018

Lahiru Pothmulla Courtesy The Daily Mirror The joint opposition (JO) today accepted Prime Minister Ranil Wickremesinghe’s challenge to former President Mahinda Rajapaksa to explain how he would reduce taxes by 20 per cent if he comes to power. JO MP Bandula Gunawardana said they would accept the challenge on behalf of Mr. Rajapaksa. Prime Minister Ranil […]

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I have accomplished far more difficult tasks – MR Reducing taxes by 20%:

Monday, June 11th, 2018

By Norman Palihawadana Courtesy The Island June 12, 2018, 12:08 pm The same people who challenged him to end the war a decade ago were now daring him to reveal how he could reduce the taxes by 20%, former President Mahinda Rajapaksa told The Island yesterday. “I took up their challenge and enabled our military, police […]

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Prime Minister Ranil Wickremesinghe challenges former President Mahinda Rajapaksa: Tell me how to repay loans while reducing taxes

Monday, June 11th, 2018

Upali Ranaweera Courtesy The Daily Mirror Responding to a claim by former President Mahinda Rajapaksa that he would reduce taxes by 20 percent after regaining power, Prime Minister Ranil Wickremesinghe challenged him on Saturday to reveal the country how the latter is going to repay the huge amount of loans the country owes to the other […]

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China withholds Hambantota Port deal’s final tranche of USD 585 mn to Lanka over dispute

Sunday, June 10th, 2018

Courtesy wionews.com  PTI Colombo, Sri Lanka Jun 10, 2018, 11.19 PM (IST) China has withheld the Hambantota Port deal’s final tranche of USD 585 million to Sri Lanka due to Colombo’s objection over its plan to use a man-made island for entertainment purposes, a media report said here today. In December last year, Sri Lanka handed over […]

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Shifting the focus: Putting on a show

Sunday, June 10th, 2018

 By Shivanthi Ranasinghe Courtesy Ceylon Today Former United National Party General Secretary Kabir Hashim is on record that he had no need to accept money from Perpetual Treasuries. He claimed that he has enough personal wealth that he could even lend money to Perpetual Treasuries. He is clearly trying to disassociate himself from the 118 MPs […]

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FACTS ABOUT THE HAMBANTOTA PORT AND INDUSTRIAL PARK DEVELOPMENT PROJECT (PART 1)

Wednesday, June 6th, 2018

BY EDWARD THEOPHILUS Some analysts have expressed many debatable comments in relation to the agreement of the Hambantota Port Development Project, which was signed by the government of Sri Lanka and the Chinese Merchant Port Holding Company owned by the Chinese government based in Hong Kong.  A major point highlighted by analysts was that the […]

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FACTS ABOUT THE HAMBANTOTA PORT AND INDUSTRIAL PARK DEVELOPMENT PROJECT (PART 2)

Wednesday, June 6th, 2018

BY EDWARD THEOPHILUS If the debt level of Sri Lanka negatively associated with the economic growth, there is no doubt that Sri Lanka will ambush to a debt trap and the country must be able to manage the debt service (interest and instalments) including to the total government spending with a less than 6% of […]

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China’s free trade talks with Sri Lanka hit major hurdles

Thursday, May 31st, 2018

Courtesy wionews.com Talks between China and Sri Lanka for a free trade agreement have hit major hurdles, mainly because Beijing will not agree to Colombo’s demand for a review of the deal after 10 years, Sri Lanka’s top negotiator said. China has invested billions of dollars building ports and roads and power stations in the […]

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CHINA CAN HELP SRI LANKA TO BECOME A DEVELOPED NATION (PART 1)

Monday, May 28th, 2018

BY EDWARD THEOPHILUS The major dream of Sri Lankans since the political independence from Western colonial rules is to become a developed nation which could deliver the prosperity to citizens of the country.  The evidence in the past displayed that the economic policy of monarchical reigns of the country was able to accomplish the expectations […]

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CHINA CAN HELP SRI LANKA TO BECOME A DEVELOPED NATION (PART 2)

Monday, May 28th, 2018

BY EDWARD THEOPHILUS When Sri Lanka gained independence in 1948, the traditional feudalistic thinking pattern or attitudes were not changed by the influences of democratic philosophy.  The experience indicated that how white people treated to aborigines in Australia and Canada and South Africa they attempted to treat similar way to Sri Lankans too. During the […]

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Sri Lanka accepts $1 billion, eight-year syndicated loan from China Development Bank

Friday, May 25th, 2018

COLOMBO (Reuters) – Sri Lanka has accepted an eight-year China Development Bank $1 billion syndicated loan to repay loans maturing this year, two top Finance Ministry officials said on Friday. The bank was chosen from among four bidding for the loan, which the government plans to use towards repaying other loans, one official told Reuters. […]

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ආර්ථිකයේ පසුබෑම

Tuesday, May 22nd, 2018

උපුටාගැණීම ලංකාදීප පසුගිය දා එළි දැක්වුණු 2017 මහබැංකු වාර්තාවට අනුව වත්මන් ආණ්ඩුවේ ආර්ථික වැඩපිළිවෙළ තුන්වෙනි වරටත් අසමත් වී ඇති බව තහවුරු වේ. ආණ්ඩුවේ ආර්ථික ඉලක්ක අතර ප්‍රධාන ඒවා වූයේ කඩිනම් ආර්ථික වර්ධනය, රැකියා දස ලක්ෂය, ණය බර තුරන් කිරීම, අපනයන සංවර්ධනය, විනිමය සංචිත වර්ධනය කිරීම, ඒක පුද්ගල ආදායම ශීඝ්‍රයෙන් වර්ධනය කිරීම, කාර්මීකරණය, ඍජු ආයෝජන වර්ධනය, […]

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Mahinda responds to accusations fuel costs were higher during his govt

Wednesday, May 16th, 2018

Courtesy Adaderana Former President Mahinda Rajapaksa says that despite the highest global crude oil prices in history” during his reign, they not only won the war against terrorism, but also successfully concluded the biggest infrastructure building programme ever seen in this country. We were able to do all that while maintaining the fertilizer subsidy so […]

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රට දැවැන්ත ආර්ථික අර්බුදයක

Tuesday, May 15th, 2018

මහාචාර්ය සුනන්ද මද්දුම බන්ඩාර උපුටාගැණීම ලංකාදීප සෑම මුදල් වර්ෂයක්ම අවසන් වී මාස 04ක් ඇතුළත ශ්‍රී ලංකා මහ බැංකුව විසින් රටේ ආර්ථික ක්‍රියාකාරීත්වය පිළිබඳ තොරතුරු ඇතුළත් වාර්තාවක් මුදල් ඇමතිවරයා වෙත ඉදිරිපත් කළ යුතුය. එය මුදල් නීති පනත අනුව බැංකුවට පැවරී ඇති නීතිමය වගකීමකි. එසේ ඉදිරිපත් කෙරෙන ශ්‍රී ලංකා මහ බැංකුවේ වාර්ෂික වාර්තාව සැලකෙන්නේ රටේ ආර්ථිකය පිළිබඳ රජයේ නිල […]

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ආර්ථික කළමනාකරණ අර්බුදය

Tuesday, May 15th, 2018

 පේරාදෙණිය විශ්ව විද්‍යාලයේ ආර්ථීක විද්‍යා අධ්‍යයන අංශයේ ජ්‍යෙෂ්ඨ කථීකාචාර්ය, ආචාර්ය මාලක රණතිලක උපුටා ගැන්ම දිවයින අපනයන ආදායම අඩුවන විට ආනයන වියදම වැඩිවීම ඔස්‌සේ ආනයන හා අපනයන අතර පරතරය ඉහළ යනු ඇත. මෙය වෙළෙඳ ගිණුමේ ශේෂය ඉහළ යැමට හේතුවකි. ඩොලරය සඳහා රුපියල් වැඩි ප්‍රමාණයක්‌ ගෙවීමට සිදුවත්දී අප සතු වත්කම් ඛාදනය වීමක්‌ද සිදු වෙයි. ක්‍රය ශක්‌තිය හා ආයෝජන […]

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රුපියල බාල්දු වීම හා තෙල් මිල

Sunday, May 13th, 2018

ආචාර්ය නාලක ගොඩහේවා යුතුකම සංවාද කවය පසුගිය වසර 3 පුරාවට රජයට ජනතාවට දුන් සහනයක් ගැන කතා කරන්නට තිබුනානම් ඒ 2015 දී වත්මන් ආණ්ඩුව විසින් තෙල් මිල පහත හෙලීමය. එසේ කරන්නට හැකි වූයේ ලෝක වෙළඳ පොලේ තෙල් මිල විශාල වශයෙන් අඩුවූ නිසාය. නමුත් අද සිට යලිත් ලංකාව තුල තෙල් මිල ඉහල ගොස් ඇත. රජය පවසන්නේ ලෝක වෙළඳ […]

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Govt. in secret agreement with ADB: ICEU

Sunday, May 13th, 2018

Yohan Perera Courtesy The Daily Mirror Government has got into a secret agreement with the Asian Development Bank (ADB ) and with a US company to prepare a white paper to expand investment of the Employees Provident Fund (EPF) on the Colombo Stock Exchange and on corporate Bonds by the year 2025, Inter Company Employees Union […]

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Sri Lanka rupee to depreciate gradually – cenbank chief

Friday, May 11th, 2018

COLOMBO, May 11 (Reuters) – The Sri Lankan rupee will depreciate gradually as dollar outflows surpass inflows, central bank chief Indrajit Coomarswamy said on Friday. Basically in Sri Lanka, (dollar) receipts are less than outflows. From now onwards it (rupee) will depreciate, but it would depreciate in a gradual way like it happened last year,” […]

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Sri Lanka’s external sector under severe stress, contrary to Central Bank’s favourable comments

Tuesday, May 8th, 2018

By Prof. Sirimevan Colombage Emeritus Professor of Economics, Open University of Sri Lanka May 8, 2018, 12:00 pm Sri Lanka is facing harsh external financing vulnerabilities contrary to the Central Bank’s recent claims that the country’s gross official foreign reserves have risen to the historically highest level of US $ 9.9 billion, reflecting improved economic […]

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Central Bank’s annual report shows govt has failed economy lock, stock and barrel: Cabraal

Thursday, May 3rd, 2018

by Sanath Nanayakkare Courtesy The Island May 3, 2018, 12:00 pm Analyzing the Central Bank’s Annual report 2017 on 77 points and ratios, former Governor of the Central Bank Ajith Nivard Cabraal said yesterday that the government; especially Prime Minister Ranil Wickremasinghe who spearheads the economy, has failed the national economy lock, stock and barrel since […]

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GL says crumbling economy a far greater issue than 20A

Thursday, May 3rd, 2018

by Maheesha Mudugamuwa Courtesy The Island Sri Lanka Podujana Peramuna (SLPP) yesterday said the 20th Amendment to the constitution which the JVP had proposed to be presented to the parliament, was not the biggest issue of the country at the moment. The party urged President Miathripala Sirisena to dissolve the parliament to end the current economic […]

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Rupee Depreciation Policy of the Yahapalanaya Regime has increased Sri Lanka Total Debt Stock by Rs. 836 billion so far

Wednesday, May 2nd, 2018

by Ajith Nivard Cabraal Former Governor, Central Bank of Sri Lanka Courtesy The Island May 2, 2018, 10:19 pm * Increase in the Total Debt Stock due to the Depreciation of the Rupee since the Yahapalanaya government came to power, reaches a staggering Rs. 836.0 billion, which is equivalent to over six times the amount borrowed to […]

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Sri Lankan rupee hits all-time low; cenbank intervenes

Wednesday, May 2nd, 2018

Courtesy Reuters COLOMBO, May 2 (Reuters) – The Sri Lankan rupee hit a fresh low on Wednesday on importer demand for the U.S. currency, dealers said, but recovered after the central bank intervened in the market. The local unit gained for the first time in seven sessions on Tuesday, after hitting a record low in […]

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