Author Archive for Economy

Govt. seeks Rs.288mn to buy vehicles for ministers

Saturday, March 25th, 2017

Courtesy  Daily Mirror The government today sought Parliament’s approval for spending a total sum of Rs.288.2 million in order to purchase vehicles for several ministers, deputy ministers and state ministers. Accordingly, the approval was sought for the spending of Rs.42 million to purchase a vehicle for deputy chairman of committees, Rs.82 million on a new […]

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Russia Offers to Set Up Helicopter Maintenance Center in Sri Lanka – Official

Friday, March 24th, 2017

Sputnik A deputy chief of Russia’s Federal Service for Military-Technical Cooperation said that Russia has proposed to set up a service center for Russian-made helicopters in Sri Lanka. © SPUTNIK/ MAKSIM BOGOVID Russia, Sri Lanka Discuss Delivery Contract of Gepard 3.9 Frigates LANGKAWI (Sputnik) – Russia has proposed to set up a service center for Russian-made helicopters in Sri […]

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Sri Lankan rupee weaker despite cenbank rate hike

Friday, March 24th, 2017

Courtesy nasdaq.com COLOMBO, March 24 (Reuters) – The Sri Lankan rupee traded weaker on Friday on importer dollar demand despite the central bank’s decision to raise key rates by 25 basis points in a move to ease the pressure on the currency. The central bank raised its benchmark interest rates by 25 basis points before […]

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Learning from Western Australia – a response

Monday, March 20th, 2017

By Vinod Moonesinghe March 20, 2017, 8:03 pm Perhaps symptomatic of the extent to which the Yahapalanaya regime has failed to fulfil its promises is that its supporters among the intelligentsia are now distancing themselves from it. The latest of them appears to be Prof. Laksiri Fernando (“Western Australian Elections and Possible Lessons for Sri […]

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Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part IV

Monday, March 20th, 2017

by C. R. de Silva, C.C.S. (Retd). Small & Medium Enterprises (SMEs) – Low Export Viability under FTAs. Courtesy The Island March 19, 2017, 12:00 pm Continued from Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part III Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE […]

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අලූත් විගණන පනතින් විගණකාධිපතිගේ බලතල විශාල ලෙස කපලා..කෝප් කමිටුවට වාර්තා දෙන්නත් බෑ..

Sunday, March 19th, 2017

යසවර්ධන රුද්රිගු– Deshaya.lk සංශෝධිත විගණන පනත මගින් විගණකාධිපති ආණ්ඩුවේ වෛරක්කාරයකු ලෙස සලකා කටයුතු කර ඇති බව පෙනෙන්නට තිබෙන නිසා තමා සංශෝධිත විගණන පනතට නිරීක්ෂණ ඉදිරිපත් කිරීමෙන් වැළකී සිටි බව විගණකාධිපති ගාමිණී විජේසිංහ පැවසුවේය. තමාගේ නිරීක්ෂණ සඳහා එවා ඇති සංශෝධිත විගණන පනතේ අවසාන කෙටුම්පත පිළිබඳ තමා කිසිදු මතයක් ඉදිරිපත් නොකරන බව වාචිකව දැනුම් දුන්නේ යැයි ඔහු […]

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Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part III

Friday, March 17th, 2017

by C. R. de Silva, C.C.S. (Retd).Courtesy The Island March 17, 2017, 9:42 pm Small & Medium Enterprises (SMEs) – Low Export Viability under FTAs. In Sri Lanka, approximately 99.8% of domestic sales are the product of small business concerns, and 83% of these are from medium-sized enterprises, both together accounting for more than 50% […]

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Will FTAs help build a ‘powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part III

Thursday, March 16th, 2017

by C. R. de Silva, C.C.S. (Retd.) (The writer who was a member of the former C.C.S., was later a senior professional at World Bank Headquarters for over 30 years). March 13, 2017, 8:21 pm The economic philosophy propagated by the International Monetary Fund (IMF) to any and all developing countries which are unfortunate enough to […]

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‘Country suffers Rs. 7 bn loss due to MPs’duty free vehicle racket

Thursday, March 16th, 2017

By Chitra Weeraratne and Shamindra Ferdinando Courtesy The Island March 16, 2017, 10:38 pm The Supreme Court was yesterday informed that members of Parliament representing all political parties had caused losses amounting to over Rs 7 bn by selling duty free vehicle permits without proper legal sanction. Among them are members of the yahapalana administration, the […]

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Disaster Politics and Political Disasters

Sunday, March 12th, 2017

by Tisaranee Gunasekara March 11, 2017, 7:02 pm Close to one million – that is the number of drought-affected Lankans in immediate need of food assistance, according to an assessment carried out jointly by the government and the UN. Of these, 80,000 men, women and children are in need ‘urgent life-saving support’.ii The numbers of […]

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Bonds of the crooked and privileged

Saturday, March 11th, 2017

By Lucien Rajakarunanayake March 10, 2017, 9:25 pm Haven’t you heard enough of these bonds? Depends on what bonds, you are talking about; there could be some bonds one may like. I mean the bonds we hear and read about every day – these big money bonds. You mean the Central Bank and Treasury bond […]

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රනිල්ගේ පච හැලීම- රටේ සමස්ථ ණය ඇ.ඩොලර් බිලියන 15000 ක් බව කියයි.. මේ රජය පැමිණ ගත් 20% ක් ණයත් සමඟ තවම ඇ.ඩොලර් බිලියන 64 යි..

Friday, March 10th, 2017

ලංකා සී නිවුස් ඇමරිකා එක්සත් ජනපදය ලෝකයේ අංක 1  ආර්ථික හිමි රටවන අතර එහි සමස්ථ වාර්ෂික දල දේශිය නිෂ්පාදනය ඇ.ඩොලර් ට්‍රිලියන 18.56 කි එනම් ඩොලර් බිලියන 18560කි  2 වෙනි ස්ථානය චීනයට හිමිවේ. එය ඇ.ඩොලර් බිලියන 11391කි තුන්වන ස්ථානය හිමිවන්නේ  ජපානයටයි. ඒ ඇ. ඩොලර් බිලියන  4730කි,  එමෙන්ම ඉන්දියාවේ වාර්ෂික දල දේශිය නිෂ්පාදනය ඇ. ඩොලර් බිලියන  2250 […]

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Sri Lanka’s Debt Crisis Is So Bad The Government Doesn’t Even Know How Much Money It Owes

Tuesday, March 7th, 2017

Wade Shepard ,  CONTRIBUTOR Courtesy Forbes Trying to develop its infrastructure to increase its economic potential has plunged Sri Lanka deep into a pit of debt, pushing the country to the brink of bankruptcy and prompting an IMF bailout. The official estimate of what Sri Lanka currently owes its financiers is $64.9 billion — $8 billion of […]

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IMF tells Sri Lanka to rebuild reserves, be ready to tighten

Tuesday, March 7th, 2017

 By Shihar Aneez Courtesy Nasdaq COLOMBO, March 7 (Reuters) – The International Monetary Fund urged Sri Lanka’s central bank on Tuesday to rebuild foreign reserves while maintaining exchange rate flexibility and to be ready to tighten monetary policy if credit growth or inflation do not abate. Following its second review of a $1.5 billion three-year loan […]

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බැඳුම්කර ණය පියවීමට මහා භාණ්‌ඩාගාරයට විශාල අරමුදල් අවශ්‍යතාවක්‌ තිබෙනවා – මහ බැංකුවේ රාජ්‍ය ණය අධිකාරි බැඳුම්කර කොමිසම හමුවේ කියයි

Tuesday, March 7th, 2017

ශ්‍යාම් නුවන් ගනේවත්ත, සරත් ධර්මසේන උපුටා ගැන්ම දිවයින භාණ්‌ඩාගාර බැඳුම්කර මගින් රජය ලබාගත් පැරණි ණය පියවීම සඳහා මහා භාණ්‌ඩාගාරය වෙත විශාල අරමුදල් අවශ්‍යතාවක්‌ ඇති වී තිබෙන බවත් එම ණය එකවර සපයා දීමේ දුෂ්කර තත්ත්වයකට මහ බැංකුව මෑතදී මුහුණ දී සිටින බවත් ශ්‍රී ලංකා මහ බැංකුවේ රාජ්‍ය ණය අධිකාරි ටී. එච්. බී. සරත්චන්ද්‍ර මහතා ඊයේ (07 දා) […]

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ඇමැති – නි. ඇමැති 11 කට වාහන ගන්න කෝටි 49 ක පරිපූරක ඇස්‌තමේන්තුවක්‌

Tuesday, March 7th, 2017

අජිත් අලහකෝන් උපුටා ගැන්ම දිවයින ඇමැතිවරුන් හත් දෙනකුට, රාජ්‍ය ඇමතිවරුන් තිදෙනකුට සහ නියෝජ්‍ය ඇමැතිවරයකුට වාහන මිලදී ගැනීම සඳහා රුපියල් හතළිස්‌ නව කෝටි හතළිස්‌ නව ලක්‍ෂ හැට දෙදහස්‌ හත්සිය අනූවක මුදලක්‌ (494962790) ඉල්ලා පරිපූරක ඇස්‌තමේන්තුවක්‌ ආණ්‌ඩු පක්‍ෂ සංවිධායක, පාර්ලිමේන්තු කටයුතු හා ජනමාධ්‍ය ඇමැති ගයන්ත කරුණාතිලක මහතා විසින් පාර්ලිමේන්තුවට ඊයේ (07දා) ඉදිරිපත් කරන ලදී. ඒ අනුව විශේෂ කාර්යභාර […]

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‘Henahura landing in a beggar’s bowl’

Tuesday, March 7th, 2017

Editorial Courtesy The Island March 7, 2017, 8:09 pm The Treasury bond scams, currently being probed by a presidential commission, have had a devastating impact on the entire country. The private sector workers are the worst affected. Their superannuation fund or the EPF (Employees’ Provident Fund) had suffered a staggering loss of Rs. 15 bn, the […]

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Govt. eyes to privatize five key state institutions – Vasu

Monday, March 6th, 2017

By Binoy Suriyaarachchi Courtesy Adaderana March 6, 2017  04:27 pm The Secretary of Socialist People’s Front Monday charged that the government has failed to uphold law and order in the country. Raja Kollure, General Secretary of Socialist People’s Front made the observation while speaking to reporters at a press conference held in Colombo. Citing the recent incidents […]

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Sri Lanka in a catch-22 situation

Monday, March 6th, 2017

EDITORIAL Courtesy The Daily Mirror Officially Sri Lanka today is in a situation best described by the Sinhala idiom ‘Girayata ahuwechcha puwak gediya wage’ –a Catch-22 situation- a paradoxical situation from which there is hardly any chance of escape. The country faces an almost insurmountable foreign exchange and external debt repayment crisis; a problem of finding […]

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‘Toxin-free Agriculture’  and  Microbial Fertilizer Technology Efficacy

Friday, March 3rd, 2017

Dr Parakrama Waidyanatha The government’s new agriculture policy as enunciated in its policy document ‘Toxin –Free Nation- Three year Plan, 2016, is sadly full of errors and un-achievable. The policy, among other things, stipulates replacing agrochemicals over a specified time frame( 3 years according to the document), with organic agriculture and  microbial fertilizer technologies; and […]

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Mahinda to sue Finance Ministry, CBSL

Saturday, February 25th, 2017

By Binoy Suriyaarachchi Courtesy Adaderana I’m seeking legal assistance to sue the Finance Ministry and the Central Bank of Sri Lanka, former President Mahinda Rajapaksa says. “After 9 January, I am no longer the Minister of Finance of this country,” Rajapaksa said. He also went on to say his successors at the Finance Ministry have allegedly […]

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බැදුම්කර වංචාවේ හොර ගැසට් පත්‍රය මුද්‍රණය 2016 නොවැම්බරයේදී යයි හෙලිවේ.. මහින්දට පොලිය සමඟ බිලියන 750ක් බැර වේ..

Saturday, February 25th, 2017

ලංකා සී නිවුස් මහින්ද රාජපක්ෂ හිටපු ජනාධිපතිවරයා මුදල් අමාත්‍යවරයා ලෙස හගවමින් 2015 වසර සඳහා ණය ගැනීමට මහා බැකුව විසින් භාණ්ඩාගාර බැදුම්කර අලෙවි කිරීමට අදාළ ගැසම් පත්‍රය මුද්‍රණය කොට ඇත්තේ 2016 නොවැම්බර් මස බව එම ගැසට් පත්‍රයේම කරුණු වලින් අනාවරනය කර ගත හැකිය. ඕනම ගැසට් පත්‍රයක මුද්‍රණයේදි එහි මුල් පිටුවේ පහළ කොටසේ ඉතා කුඩා අකුරෙන් එහි […]

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අවුරුදු 10 කදී ගත් ණය වගේ දෙගුණයක් වසර දෙකකදී අරගෙන-හිටපු ජනපති මහින්ද කියයි

Thursday, February 23rd, 2017

උපුටා ගැන්ම ලංකාදීප තම රජය අවුරුදු 10 කදී ගත් ණයට වඩා වැඩි ණය ප්‍රමාණයක් වත්මන් රජය පසුගිය වසර දෙකේ ගෙන තිබෙන බව හිටපු ජනපති මහින්ද රාජපක්ෂ මහතා අද (23) පැවසීය. රටේ ජාතික සම්පත් විකිණීමට එරෙහිව ඒකාබද්ධ විපක්ෂය ආරම්භ කළ ජාතික සම්පත් සුරැකීමේ මධ්‍යස්ථානය නාරාහේන්පිට අභයාරාමයේ දී විවෘත කරමින් හිටපු ජනපතිවරයා එසේ කීවේය. රාජ්‍ය කළමනාකරණය නොදන්නා බැවින් […]

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Sri Lankan rupee falls on importer dollar demand; dealers see more pain ahead

Wednesday, February 22nd, 2017

Courtesy Nasdaq COLOMBO, Feb 22 (Reuters) – The Sri Lankan rupee ended weaker on Wednesday on importer dollar demand as local traders bought the U.S. currency as a precaution amid concerns of a steep depreciation in the rupee in the absence of central bank intervention, dealers said. Rupee forwards <SLKR> were active with two-week forwards […]

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ශ‍්‍රි ලංකා ආර්ථිකය අවදානමේ.. පියවර 19කින් පහලට.. ජාත්‍යන්තර දර්ශකයක් ලොව පුරා ආයෝජකයින්ට කියයි..

Tuesday, February 21st, 2017

ලංකා සී නිවුස් එක්සත් ජනපදයේ Heritage Foundation විසින් වාර්ෂිකව ප්‍රකාශයට පත්කරනු ලබන ආර්ථික ස්වාධීනත්ව දර්ශකයට (Index of Economic Freedom) අනුව ශ්‍රී ලංකාව ස්ථාන 19 කින් පහලට ගොස් තිබේ. මේ අනුව නොබෝදා එළිදක්වන ලද 2017 ආර්ථික ස්වාධීනත්ව දර්ශකයේ 112 වැනි ස්ථානයට ශ්‍රී ලංකාව පත්ව තිබෙන අතර 2016 වසරේ දී ශ්‍රී ලංකාව 93 වැනි ස්ථානයේ පසුවිය. මෙහිදී […]

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Each minister costs taxpayer an arm and a leg

Tuesday, February 21st, 2017

By Shamindra Ferdinando Courtesy The Island February 20, 2017, 10:40 pm Former Central Bank Governor Dr. W.A. Wijewardena said that tangible measures were urgently needed to restrict taxpayers’ money being spent on members of cabinet. Dr. Wijewardena said that the yahapalana administration experiencing severe difficulties on the economic front couldn’t afford to squander funds under […]

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The IMF In Sri Lanka: ‘Bull In A China Shop’ Syndrome? Part I

Tuesday, February 21st, 2017

By C. R. de Silva. Ex-World Bank. October 6, 2016, 9:15 pm RECENT IMF REVIEW The IMF Review Mission in September for the $ 1.5 Billion EFF to Sri Lanka (in seven semi-annual instalments) started as a love fest on a familiar note under a well-known mission leader, and some ten days later, ended on […]

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THE IMF IN SRI LANKA – PART II -Sri Lanka: IMF-Directed, Slow Development Strategy

Tuesday, February 21st, 2017

by Chanaka R. De Silva,Ex-World Bank (The writer, a member of the former C.C.S. was later a senior professional at World Bank Headquarters in Washington D.C. for three decades). February 9, 2017, 9:16 pm (“The IMF in Sri Lanka – Part I” – Special Report – appeared above.) Sri Lanka: IMF’s Economic Philosophy The International Monetary Fund […]

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THE IMF IN SRI LANKA – PART III -The Development Strategy of The ‘Miracle’ Economies of East Asia

Tuesday, February 21st, 2017

by Chanaka R. de Silva Ex-World Bank Introduction – Resurgent Nationalism vs Globalization in Decline. Today, nationalism and its fellow travelers protectionism and populism, are sweeping across the Western world, ever since the global financial crisis of 2007-8, which started in the U.S., essentially on Wall Street, in a paroxysm of financial greed for quick […]

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THE IMF IN SRI LANKA – PART IV The Development Strategy of The ‘Miracle’ Economies of East Asia

Tuesday, February 21st, 2017

by Chanaka R. de Silva Ex-World Bank The Korean Development Example. Korea is an outstanding phenomenon of the economic policy strategy of the so-called “Development State”. To summarize the foregoing part, Korea, now an OECD (the rich countries’ club) member and an aid funding source through its own KOICA agency (with a bi-lateral development program […]

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