Author Archive for Economy

Need a proper policy on foreign investors – Gotabaya

Sunday, March 17th, 2019

Courtesy Adaderana When inviting foreign investors, it is important to create an economic policy which can protect the local entrepreneur stated former Defense Secretary Gotabaya Rajapaksa. If foreign investors are invited into the country they should generate some foreign exchange and employment opportunities for the country, he said. He further said that the investors also […]

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Chinese loans are 10% of Sri Lanka’s total foreign debt, and of this, 60% was lent on concessional terms

Saturday, March 16th, 2019

By Dr.Dushni Weerakoon and Dr. Sisira Jayasuriya Courtesy NewsIn.Asia Colombo, March 16 (Channel Asia News): Global media and numerous experts” routinely assert that Sri Lanka was forced to cede a strategically important port to China after being lured into a debt trap by easy Chinese loans. This story has now become part of the wider narrative […]

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Fantasyland of the crooked

Friday, March 15th, 2019

By Lucien Rajakarunanayake  Courtesy The Island Columnist Kusal Perera of the Daily Mirror has today (15) described many of the latest Budget proposals, especially on education, as fantasies — imaginary or improbable things. He has got it right. But such fantasy is now the stuff of all aspects of governance and certainly goes beyond supposed […]

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Budget 2019: Fantasies for short term debate

Friday, March 15th, 2019

By Kusal Perera  Courtesy The Daily Mirror What is a collection of fantasies called? Fantasy is defined in the Oxford English Dictionary as ….Imagining impossible or improbable things”. But what is a ‘collection’ of such imaginations called? Here in Sri Lanka it simply is a Budget. The latest budget for 2019 now debated in Parliament proposes […]

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Mangala in Retreat: Budget 2019

Thursday, March 14th, 2019

By sumanasiri liyanage Courtesy Ceylon Today Presenting his first budget in November 2017, Mangala Samaraweera behaved like a bull in a china shop informing that he would amend the laws that were enacted by the previous governments in order to protect the lower rung of the society for the satisfaction of the greed and needs of […]

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A Budget which offers no solutions

Tuesday, March 12th, 2019

N.A. DE S. AMARATUNGA  Courtesy The Island From a layman’s point of view a budget prepared by a Finance Minister of a government must attempt to provide solutions to the acute financial issues and problems that have a direct or indirect effect on the lives of the people. One need not be an economist to […]

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2019 Budget risks ruining Economy to win votes

Monday, March 11th, 2019

By Prof. Tissa Vitarana General Secretary, LSSP Courtesy Ceylon Today The 2019 Budget comes as the last one of this Government. The people have experienced four years of an open market economy” and practically everyone in different walks of life complain that they feel dissatisfied, find it difficult to work and live the way they did […]

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Budget sans A vision

Monday, March 11th, 2019

By Shivanthi Ranasinghe  Courtesy Ceylon Today Though the Budget is always given huge publicity, by the Media, and becomes the topic of the town, majority of people remain clueless as to what it contains. The ordinary citizen whose discipline is not in accountancy or economics, do not know how to analyse the Budget and find the […]

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මංගලට ආර්ථිකය ගැන මෙලෝ හසරක් දන්නෙ නෑ.. අයවැය ලස්සන නම් ටිකක් පමණයි.. මංගලට වාණිජ අංශයේ සුළු රස්සාවකටවත් සුදුසුකම් නෑ..- ආර්ථික වියතෙක් කියයි..

Thursday, March 7th, 2019

lanka C news 2019 වසර සදහා ඉදිරිපත් කර ඇති අයවැය යෝජනාවලිය සම්බන්ධයෙන් හිටපු මහ බැංකු අධිපති අජිත් නිවාඩ් කබ්රාල් මහතා වියත්මග කාර්යාලයේ පැවති මාධ්‍ය හමුවේදී මෙම අදහස් පල කලේය. අයවැය ලේඛනය අනුව, ශ්‍රී ලංකාවේ දළ දේශීය නිෂ්පාදිතයට සාපේක්ෂව ණයබරතාවය දැන් 91% දක්වා වැඩිවෙලා. 2014 දී තිබුණේ 71% පමණි. enterprise srilanka” යනු ණයදීමේ ක්‍රමවේදයකට ලස්සන ආකර්ෂණීය […]

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වියත්මග වියතුන් ඛේමාගේ කොලුගේ අයවැය හමගසා කෝටුමස් කරති.. [Video]

Wednesday, March 6th, 2019

– චාමින්ද කරුණාරත්න lanka C news ආචාර්ය නාලක ගෝඩහේවා මහතා සහ හිටපු මහ බැංකු අධිපති අජිත් නිවාඩ් කබ්රාල් මහතා වියත්මග කාර්යාලේ පැවති මාධ්‍ය හමුවකදී 2018 අයවැය යෝජනාවලිය සම්බන්ධයෙන් මෙම අදහස් පල කලේය. රටක අයවැයක පුළුල් අරමුණ වන්නේ රටේ දිගුකාලීන ආර්ථික සංවර්ධනය සැලසුම් කිරීමයි. අයවැය ලේඛනය යනු රටේ අනාගත ගමන්මගේ දිශානතිය පෙන්වනු ලබන ප්‍රධානතම ලියවිල්ලයි. ඒ […]

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බැදුම්කර නඩුව ගණනය කරන්න වෝහාරික විගණනයක්

Wednesday, March 6th, 2019

අජන්ත කුමාර අගලකඩ උපුටාගැණීම ලංකාදීප මහ බැංකුවේ බැදුම්කර නිකුත් කිරීමේදී සිදුව ඇති පාඩුව ගණනය කිරීම සඳහා වෝහාරික විගණනයක් ජනාධිපති මෛත්‍රීපාල සිරිසේන මහතාගේ ප්‍රධානත්වයෙන් අද (06) පැවැති කැබිනට් රැස්වීමේදී තීරණය කර ඇත. ඒ සඳහා ඉදිරිපත් කරන ලද කැබිනට් සංදේශයට අමාත්‍ය මණ්ඩල අනුමැතිය ලැබී ඇත. ඒ අනුව වෝහාරික විගණනය කිරීම සඳහා විශේෂඥයින් පත් කිරීමටත් ඊට අවශ්‍ය මුදල් වෙන් […]

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Figures in Budget 2019 incorrect: Gammanpila

Wednesday, March 6th, 2019

 Sheain Fernandopulle Courtesy The Daily Mirror Figures of the government revenue stated in the Budget proposal 2019 are erroneous, Pivithuru Hela Urumaya (PHU) leader Udaya Gammanpila said today. Addressing a news briefing he said some figures have been exaggerated with a motive of hiding government’s actual economic picture. The Government had estimated in the budget that […]

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Sri Lanka’s debt problem isn’t made in China

Saturday, March 2nd, 2019

Authors: Dushni Weerakoon, Institute of Policy Studies of Sri Lanka and Sisira Jayasuriya, Monash University Courtesy East Asia Forum  Global media and numerous ‘experts’ routinely assert that Sri Lanka was forced to cede a strategically important port to China after being lured into a debt trap by easy Chinese loans. This story has now become part of […]

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IMF agrees to extend Sri Lanka’s $1.5 billion loan facility by one year

Friday, March 1st, 2019

Courtesy The Daily News The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the findings so far, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and […]

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ලංකාව දකුණු ආසියාවේ ආර්ථික කේන්ද්‍රස්ථානයක් කළ හැකියි

Monday, February 25th, 2019

 උපුටාගැණීම  මව්බිම උපාය මාර්ගික වශයෙන් අතිශය වැදගත් ස්ථානයක පිහිටා ඇති ශ්‍රී ලංකාවට දකුණු ආසියානු කලාපය තුළ ආර්ථික කේන්ද්‍රස්ථානයක් බවට පත්වීමේ අංග සම්පූර්ණ අවස්ථාවක් ඇතැයි ද එමඟින් සමස්ත කලාපයටම ප්‍රතිලාභ හිමි වනු ඇතැයි ද මෑතකදී ඩුබායිහි පැවති වියොන් ගෝලීය සමුළුවේදී පාර්ලිමේන්තු මන්ත්‍රි නාමල් රාජපක්ෂ මහතා ප්‍රකාශ කළේය. ඔහු මේ අදහස් පළ කළේ කලාපය පුරා විවිධ රටවලින් […]

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ප්‍රතිඅපනයන ජාවාරමෙන් සුළු අපනයන බෝග කර්මාන්තය බිඳවැටේවි

Thursday, February 21st, 2019

ඩබ්ලිව්.කේ. ප්‍රසාද් මංජු උපුටාගැණීම  මව්බිම ජාවාරමක් ලෙස ඇතැම් ද්‍රව්‍ය ප්‍රතිඅපනයනය කිරීම දිගටම සිදුකරගෙන ගියහොත් මෙරටින් අපනයනය කරනු ලබන සුළු අපනයන භෝගවලට දැඩි තර්ජනයක් එල්ල වී කුළුබඩු ඇතුළු සුළු අපනයන කර්මාන්තය දැඩි අර්බුදයකට මුහුණපෑමේ අවදානමක් මතු වී තිබෙන බව විපක්ෂ නායක මහින්ද රාජපක්ෂ මහතා ප්‍රකාශ කරයි. පාර්ලිමේන්තු සංකීර්ණයේදී ඊයේ (20දා) පැවැති එක්සත් ජනතා නිදහස් සන්ධානයේ පාර්ලිමේන්තු මන්ත්‍රි […]

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Attack on MFCs and Govt’s knee-jerk response

Sunday, February 17th, 2019

J.A.A.S.RANASINGHE Colombo 05 Courtesy The Island Leading businessman, Dudley Sirisena (DS) President’s brother, at a recent meeting in Polonnaruwa is reported to have said that Micro Finance Companies (MFCs) are like leeches that suck blood of the poor people’s livelihood income, and consequently, the rural economy is in a serious state of indebtedness unable to repay […]

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Sri Lanka lacks proper frameworks in anti-money laundering, counter-terrorist funding: EU

Friday, February 15th, 2019

Lahiru Pothmulla Courtesy The Daily Mirror The European Commission on Wednesday listed Sri Lanka among 23 countries with strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks. The Commission adopted the new list of third (non-European) countries with weak anti-money laundering and terrorist financing regimes with the aim of protecting the EU financial system by […]

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Fuel prices hiked

Monday, February 11th, 2019

Courtesy Adaderana The Government has revised the fuel prices and accordingly the fuel price has been increased from midnight today (11), stated the Ministry of Finance issuing a release. As a result, the prices of one liter of Petrol Octane 92 and the Auto Diesel have been increased by Rs 6 and Rs 4 respectively. […]

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Mangala,Indrajit Returning Empty-Handed?

Wednesday, February 6th, 2019

By sumanasiri liyanage Courtesy Ceylon Today This time they might have thought it was imperative to meet the boss in order to find a relief for the economy that was in a real crisis. The crisis has surfaced in the form of a crisis of debt repayment. How do we characterise it? Sometime back, when I […]

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Sri Lanka to borrow USD one billion from China for highway project

Friday, February 1st, 2019

Courtesy Adaderana Sri Lanka, which last year handed over a strategic port to a Chinese firm for a 99-year lease as a debt swap, will soon sign a USD 1 billion consessional loan agreement with Beijing to fund a major highway project linking Colombo to the hill capital of Kandy. The construction of the first […]

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ජාත්‍යන්තර මූල්‍ය අරමුදල නැතිවම බැරිද?

Tuesday, January 22nd, 2019

ආචාර්ය නාලක ගොඩහේවා උපුටාගැණීම  මව්බිම ජාත්‍යන්තර මූල්‍ය අරමුදල (IMF)  විසින් ලබා දීමට නියමිතව තිබූ ණය පසුගිය කාලයේ රටේ ඇති වූ දේශපාලන අස්ථාවරත්වය නිසා තාවකාලිකව අත්හිටුවා ඇති බවත් ඒ නිසා මේ වසරේ රජය විසින් ගෙවිය යුතු ඇමෙරිකානු ඩොලර් මිලියන 5,900ක ණය ගෙවීම ගැටලුවක් වී ඇති බවත් පසුගිය සතියේ පැවැති ආර්ථික විශේෂඥයන්ගේ සමුළුවකදී මහ බැංකු අධිපති ආචාර්ය ඉන්ද්‍රජිත් කුමාරස්වාමි […]

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Fall Armyworm could be a conspiracy against agriculture – Mahinda

Sunday, January 20th, 2019

Courtesy Adaderana There is a doubt as to whether the plague of Fall Armyworm (Sena Caterpillars) is someone’s conspiracy to destroy agriculture in the country by importing food from other countries, said Leader of Opposition Mahinda Rajapaksa. He mentioned this following an event held in a temple in Beliatta, today (20). Further commenting, Rajapaksa stated […]

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Sri Lanka says has $406 million loan offer from Bank of China, may increase to $1.35 billion

Tuesday, January 15th, 2019

Courtesy straitstimes COLOMBO (REUTERS) – Sri Lanka is considering an offer from Bank of China for a loan of US$300 million (S$406 million), which could be raised to US$1 billion (S$1.35 billion), to help it meet repayments in coming months, junior finance minister Eran Wickramaratne told Reuters on Tuesday (Jan 15). He also confirmed that […]

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Statement by IMF Managing Director Christine Lagarde on Meeting with Sri Lanka’s Finance Minister Mangala Samaraweera and Governor Indrajit Coomaraswamy

Tuesday, January 15th, 2019

IMF Communications Department MEDIA RELATIONS January 15, 2019 Christine Lagarde, Managing Director of the International Monetary Fund (IMF), met today with Sri Lanka’s Finance Minister Mangala Samaraweera and Governor Indrajit Coomaraswamy. Following the meeting, Ms. Lagarde made the following statement: I was pleased to meet with Minister Samaraweera and Governor Coomaraswamy this afternoon. We discussed […]

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පාර්ලිමේන්තුව අද බොරු ගුහාවක්

Tuesday, January 15th, 2019

ආචාර්ය නාලක ගොඩහේවා උපුටාගැණීම  මව්බිම පාර්ලිමේන්තුව යනු ගෞරවාන්විත තැනක්ය යන හැඟීම දිනෙන් දිනම ජනතාව අතරින් ගිලිහෙන්නේ පාර්ලිමේන්තුව තුළ ව්‍යවස්ථාදායකයන්ගේ බාල හැසිරීම නිසාය. විශේෂයෙන්ම මෑත ඉතිහාසයේ ආණ්ඩු පක්‍ෂයේත් විපක්‍ෂයේත් හැසිරීම සාමාන්‍ය ජනතාවගේ අප්‍රසාදයට ලක්වූ බව නොරහසකි. පාර්ලිමේන්තුව තුළ බොරු කීමේ ප්‍රවණතාවද දිගින් දිගටම ඉහළ යමින් පවතී. සාමාන්‍යයෙන් එවැනි හැසිරීමක් බලාපොරොත්තු විය හැක්කේ පසුපෙළ මන්ත්‍රිවරයකුගෙන් වුවද රටේ අග්‍රාමාත්‍යවරයා […]

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Lanka struggles to repay record foreign debt : Sri Lanka’s prime minister

Saturday, January 12th, 2019

Courtesy The Island (AFP) Sri Lanka’s prime minister said the country was struggling to pay back its ballooning foreign debt, blaming a recent political crisis for dealing a “death blow” to the economy. Ranil Wickremesinghe said his government was scrambling to raise $1.9 billion to help service a first debt payment of $2.6 billion, that […]

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Sri Lanka to use reserves to repay $1 bln loan

Saturday, January 12th, 2019

COLOMBO, Jan 10 (Reuters) – Sri Lanka has arranged $1 billion to repay a five-year sovereign bond maturing next week partly from its declining reserves, sources from both the central bank and finance ministry said on Friday. Originally the island nation’s three state banks were to borrow up to $1 billion from foreign sources before […]

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Why is food so expensive in Sri Lanka?

Monday, January 7th, 2019

By Ravi Ratnasabapathy/www.research.advocata.org Courtesy NewsIn.Asia Colombo, January 7: Sri Lanka has a high cost of living. Data for August 2017 gathered by Numbeo, a crowd-sourced database, indicates that grocery prices are 34.48% higher (and consumer prices 25.22% higher) than in India. Chicken is actually cheaper in Singapore than in Sri Lanka. Whole chicken retails for around […]

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“Sri Lanka is too weak to enter into FTAs like the one with Singapore”, says Presidential experts committee

Monday, December 31st, 2018

Courtesy NewsIn.Asia Colombo, December 31 (DailyFT): Free Trade Agreements (FTAs) are of no use” unless backed by a slew of reforms to make Sri Lanka’s economy more competitive, a highly-critical report from the Committee of Experts (CoE) appointed by President Maithripala Sirisena to evaluate the Sri Lanka-Singapore FTA has said. It recommends that any future […]

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