Author Archive for EDWARD THEOPHILUS

WHAT ARE CREDIT IRREGULARITIES AND HOW THEY ARE DETERMINED?

Sunday, July 5th, 2020

BY EDWARD THEOPHILUS A recent statement of the Prime Minister, Mr. Mahinda Rajapaksa after meeting with executives of Ceylon Bank Employee’s Union regarding the investigation on the irregular credits of government banks during the Yahapalana Regime, expressed that the government is willing to appoint an investigation commission to consider the irregularities incurred in credit approval […]

More >

EXODUS OF SRI LANKAN EMPLOYEES BACK TO HOMELAND FROM OVERSEAS

Tuesday, June 23rd, 2020

BY EDWARD THEOPHILUS When we were studying Demography at the university, a popular topic was Brain Drain, and we were not happy about the population policy planning at that time as the government policy did not direct and address required policy measures to control brain drain.  The major reason to displease the government policy was […]

More >

LIBERAL DECISION MAKING FOR CREDIT APPROVAL AND ADMINISTRATIVE DISCRETION

Tuesday, June 16th, 2020

BY EDWARD THEOPHILUS President Gotabaya Rajapaksa reminded several times that banks must change traditional attitudes when granting financial supports to economic activities after the COVID backwardness. No doubt that the president wants quickly renaissance of the economy and the recession (negative economic growth) has become an unexpected experience in all countries. If the banking system […]

More >

THE CENTRAL BANK SHOULD TAKE RESPONSIBILITY FOR FINANCE COMPANIES UNDER ITS ADMINISTRATION

Monday, June 8th, 2020

BY EDWARD THEOPHILUS A recent statement of Mr. Mahinda Rajapaksa, the Prime Minister of Sri Lanka has stated that the responsibility for the failure of the finance company must be taken by the central bank as the company has been under its administration.  I am fully agreed with the statement of the prime minister and […]

More >

COULD CHINA HELP SRI LANKA TO BE A DEVELOPED NATION? (PART B)

Monday, June 1st, 2020

BY EDWARD THEOPHILUS International news of CNN published that China is becoming to replace the USA in international aid, the total Chinese aid from the year 2000 to 2014 was US $ 354 billion of which a quantum of aid has gone to African nations where combinedly received the US $ 32 billion for 704 […]

More >

COULD CHINA HELP SRI LANKA TO BECOME A DEVELOPED NATION? (PART C)

Monday, June 1st, 2020

BY EDWARD THEOPHILUS When the country was in a difficult time after ending the civil war, the Rajapaksa regime was given strong support by China and Russia, if a situation to let down Sri Lanka arose, both countries promised to exercise their power, most probably veto power against the international attempts to condemn Sri Lanka. […]

More >

COULD CHINA HELP SRI LANKA TO BECOME A DEVELOPED NATION? (PART A)

Sunday, May 31st, 2020

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

More >

SRI LANKA NEEDS TO CHANGE ITS MONETARY UNIT

Monday, May 25th, 2020

BY EDWARD THEOPHILUS Historical evidence of Sri Lanka unambiguously indicates that she had been used monetary units in assorted names in the past before the current monetary unit, Rupee introduced into the country.  The fascinating coins triumphal arch installed in Bank of Ceylon Head Quarters in Colombo displays the models of different monetary units had […]

More >

SRI LANKA NEEDS TO CHANGE ITS MONETARY UNIT (PART 2)

Monday, May 25th, 2020

BY EDWARD THEOPHILUS It is considered that the rapid decline of Sri Lanka rupee created a favorable environment for exporters and Sri Lankans who are in foreign employment, however, the reality is that a rapid decline of the rupee value has massively impacted on the increase in domestic inflation as well as the increase in […]

More >

RE-MODELING ECONOMIC POLICIES TO SUCCEED BALANCED GROWTH IN THE COUNTRY (PART 1)

Friday, May 22nd, 2020

BY EDWARD THEOPHILUS Re-modeling economic policies of the country may have been the prime accountability of all governments elected to the office since independence in 1948. Although the policymakers soon after the independence, did not publicly state to accomplish the accountability with balanced growth, the focus of policymaking implied to reduce the bias in the […]

More >

RE-MODELING ECONOMIC POLICIES TO SUCCEED BALANCED GROWTH IN THE COUNTRY (PART 2)

Friday, May 22nd, 2020

BY EDWARD THEOPHILUS Since 1978 economic policies have been accomplished to satisfy the attitudes or thinking patterns of common people, however, the idea of enhancing the production, and the productivity went out of the minds of policymakers, because of the politics of the country reluctance to show or hear about the shortage of goods and […]

More >

EDUCATION REFORMS REQUIRED TO BUILD A SYSTEM THAT IS LOOKING FOR GRADUATES THAN GRADUATES LOOKING FOR JOBS

Monday, May 18th, 2020

BY EDWARD THEOPHILUS I read a news report that contained an address of Mr.Gotabaya Rajapaksa, the president of Sri Lanka, and reported that the president stated the country needs to build a system that looks for graduates to employ in the organizations than graduates are looking for jobs.  This statement directed a very good vision […]

More >

SOCIAL MEDIA SHOULD STOP MYTHICAL VIEWS, LIES, BAD LANGUAGE AND IMMORAL EXPOSURES

Tuesday, May 12th, 2020

BY EDWARD THEOPHILUS It is widely accepted that the invention of personal computers, mobile phones, and other information technology-related devices, which had been used to acquaint information bolstered the initiation of social media. The freedom of expression and the right to express independent views are affirmed by social media. It is a good development and […]

More >

WOULD THE WORLD ECONOMY BE TAKEN BACK TO THE CLASSICAL ERA BY THE CORONA PANDEMIC?

Monday, April 20th, 2020

BY EDWARD THEOPHILUS The world economy has been radically changing since the great depression experienced in the 1930s, meantime, the cold war also supported control of consumer demand and the market economic system forcing many countries to spend for defense activities than investments in development projects. The war mentality limited the production in various areas […]

More >

WHITHER THE IMF WHEN CURRENCY UNITS OF DEVELOPING COUNTRIES ARE DRAMATICALLY DEPRECIATING

Saturday, April 11th, 2020

BY EDWARD THEOPHILUS It is regret to note that the coronavirus pandemic and associated unstable economic environment created in the world has caused to dramatically depreciate official currency units of developing countries.  Sri Lanka’s rupee value has depreciated to more than Rupees 200 to a US dollar and other developing countries also gaining similar results […]

More >

SRI LANKA NEEDS A PARTIAL DICTATORSHIP FOR EFFICIENT AND CLEAN ADMINISTRATION

Wednesday, April 8th, 2020

BY EDWARD THEOPHILUS When I was talking to people in Sri Lanka as well as those who were overseas, they expressed that Sri Lanka needs a partial dictatorship for efficient and clean administration. Major news items in print and web media at present are mainly focusing on corruption, misappropriation, cheating, and information related to the […]

More >

ECONOMIC POLICY NEED TO FOCUS STRONG BALANCED GROWTH IN SRI LANKA

Thursday, April 2nd, 2020

BY EDWARD THEOPHILUS Short term performance of Mr. Gotabaya Rajapaksa, the president of Sri Lanka has proved that he is a capable person to launch the country to achieve the aspirations of people.  He has given strong leadership to control coronavirus pandemic and successfully coordinated the entire administration mechanism as a team leader of the […]

More >

POSSIBLE ECONOMIC EFFECTS OF THE PROPOSAL OF MR. AJITH NIVARD CABRAL TO RELEASE A PART OF PROVIDENT FUND

Wednesday, April 1st, 2020

BY EDWARD THEOPHILUS It seems that the proposal of Mr. Ajith Nivard Cabraal to release 20% of EPF balance to members is quite controversial as it would involve in positive and negative outcomes if the proposal implemented without experts’ opinions and a proper mathematical model. What is policy research say about the proposal, especially what […]

More >

THE WORLD ECONOMY IN CORONAVIRUS PANDEMIC AND POLICY OPTIONS FOR SRI LANKA

Tuesday, March 24th, 2020

BY EDWARD THEOPHILUS It is reported that the world economy has commenced to unexpected backward as a result of the corona outbreak and many leaders have commented that this experience could be regarded as the main incident after a century of economic history.  The major impact would be unemployment and lower-income for families. It will […]

More >

PRODUCTIVITY ENHANCEMENT AND COMPLICATED ECONOMIC ISSUES IN SRI LANKA

Monday, March 9th, 2020

BY EDWARD THEOPHILUS Modernization has been affecting the economic, social and cultural environment of Sri Lanka and it seems that the government policy framework also enthusiastic about going with modernization. Sometimes, people feel that modernization invaded many areas of the country creating distortion or a deformity in attitudes of people and the real behavior of […]

More >

MR. DINESH GUNAWARDANE AN EXCELLENT FOREIGN MINISTER

Sunday, March 1st, 2020

BY EDWARD THEOPHILUS It is surprising to Sri Lankans living in the country and overseas that Mr. Dinesh Gunawardena handled the withdrawal from the Co-Sponsorship of UNHCR resolution.  It seemed that many countries respected the views expressed by Minister Gunawardena who showed the nature of real Sri Lankan and educated personnel. There were different types […]

More >

THE CONCEPT OF SEPARATE STATE AND ASPIRATIONS OF TAMILS IN SRI LANKA

Tuesday, February 25th, 2020

BY EDWARD THEOPHILUS The concept of a separate state is a confusing term to Sinhala and Tamil people in Sri Lanka and it is more complex and baffled term to Muslims too in the country.  The term separate state defines dictionaries and encyclopedia on the internet using the arguments had between Hindu and Muslim leaders […]

More >

POPULATION GROWTH AND WOMEN FERTILITY RELATED ISSUES IN SRI LANKA

Tuesday, February 18th, 2020

BY EDWARD THEOPHILUS Population in any country contemplates as a macroeconomic factor that has a relationship with a broader economic activity in a country and policymakers concern with population-related issues as it associates with primarily economic development and it also concerns with social and cultural issues. Many western countries face the problem of economic growth […]

More >

CENTRAL BANK BOND SCAM AND MISLEADING PUBLIC PART 1

Monday, February 10th, 2020

BY EDWARD THEOPHILUS Central Bank bond scam has been in news media of Sri Lanka since 2015 and when I was watching TV programs on this matter I had a feeling that it has been used by many people in the country to mislead public who haven’t clear understanding about the dealing and some TV […]

More >

CENTRAL BANK BOND SCAM AND MISLEADING THE PUBLIC PART 2

Monday, February 10th, 2020

BY EDWARD THEOPHILUS TV programs conducted by TV companies and participants of the programs including Mr. Sunil Hadunneththi did not explain point by point to people and I have a reasonable question whether they wanted to mislead the public talking unknown and irrelevant matters rather than presenting the real picture of the central bank bond […]

More >

CURRICULUM AND TEACHING REFORMS ESSENTIAL TO SRI LANKA PART 1

Friday, January 31st, 2020

BY EDWARD THEOPHILUS Curriculum and Teaching reforms would be the most considerable area in the education reforms process of Sri Lanka and the quality of education will be dependent on the success of the curriculum and teaching process. This is the secrecy that the success of education in Western countries.  Parents of Sri Lanka wish […]

More >

CURRICULUM AND TEACHING REFORMS ESSENTIAL TO SRI LANKA PART 2

Friday, January 31st, 2020

BY EDWARD THEOPHILUS UNESCO defined curriculum is an organized education plan and curriculum in education in Sri Lanka has not become an education plan that leads kids to achieve future success and the national curriculum documents have not organized as an education plan. The weakness in curriculum in schools in Sri Lanka is that educational […]

More >

FORENSIC AUDIT REPORT ON CENTRAL BANK BOND SCAM AND THE SUPERANNUATION MANAGEMENT IN SRI LANKA

Wednesday, January 29th, 2020

BY EDWARD THEOPHILUS I attempted to find a copy of the forensic audit report on the central bank bond scam, but I could not find it, most probably, the speaker of parliament may want to maintain confidentiality on the contents of the report. If it is opened to the public different views would have aroused […]

More >

ADAPTING TO MODERNIZATION IN A DYNAMIC SOCIETY

Monday, January 27th, 2020

BY EDWARD THEOPHILUS When I look at opinions, readings and human behavior regarding the concept of modernization it seems that policymakers in Sri Lanka are in a difficult situation without a clear understanding of how it should be adapted to the society of Sri Lanka.  Not only in a theoretical sense but also in practical […]

More >

THE PROPOSED BANKING ACT AND VITAL AREAS TO BE CONSIDERED IN THE ROLE OF THE CENTRAL BANK (PART 1)

Tuesday, January 14th, 2020

BY EDWARD THEOPHILUS It is a pleasure to hear that Prof.W.D.Lakshman, the governor of Central Bank publicly announced that a new banking act will be enacted in 2021.  According to news reports, the following areas would be the major consideration in the proposed legislation. However, the governor’s statement did not give clear information on whether […]

More >

Copyright © 2020 LankaWeb.com. All Rights Reserved. Powered by Wordpress