Author Archive for EDWARD THEOPHILUS

WERE RELIGIOUS DIFFERENCES CONTRIBUTED TO THE DISUNITY OF SRI LANKANS?

Tuesday, December 1st, 2020

BY EDWARD THEOPHILUS It considers the unity among different community groups in a country will be an essential condition and ingredient for prosperity and strength, either in economic achievements or political stability. When critically tests the era of King Parakramabahu the Great, the idea is confirmed with much evidence.  The archetype had in mind of […]

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REDUCTION OF BUDGET DEFICIT AND CREATING A PRODUCTION ECONOMY

Saturday, November 21st, 2020

BY EDWARD THEOPHILUS The main focus of the budget speech of the prime minister for 2021 has reported that the reduction of the budget deficit, and creating a production economy in the country.  The idea has been written in my articles during the past several years as I observed that macroeconomic issues have been less […]

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HAS SRI LANKA BEEN CAUGHT IN A CHINESE DEBT TRAP? PART 1

Friday, November 13th, 2020

BY EDWARD THEOPHILUS What is a debt trap, is a question to ordinary people in the country, because many people have no understanding of the debt trap issue, and access to related statistics? People know what is a trap, and how to use a trap for various purposes.  A trap is used to catch animals, […]

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HAS SRI LANKA BEEN CAUGHT IN A CHINESE DEBT TRAP? PART 2

Friday, November 13th, 2020

BY EDWARD THEOPHILUS Sri Lanka has good strategies for debt management and the current debt statistics don’t indicate that Sri Lanka has caught in a Chinese debt trap, and China helped Sri Lanka to expand its GDP base by initiated loan projects, and Sri Lanka needs to expand Chinese sponsored projects in many areas, not […]

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THE CONCEPT AND CONTENTS OF THE 13TH AMENDMENT

Sunday, November 1st, 2020

BY EDWARD THEOPHILUS It seems that many people of Sri Lanka talk about the 13th amendment to the constitution before the quick boost of opinion on the arrival of the US Secretary of State. The visit was highly focused on opinion on the MCC agreement and political talks on the agreement, and it is clear […]

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THE VISIT OF MIKE POMPEO, THE SECRETARY OF STATE AND MISCONCEPTIONS ON INVESTMENT IN SRI LANKA

Saturday, October 31st, 2020

BY EDWARD THEOPHILUS When it talks about investment nobody can ignore the views of Schumpeter, who is regarded as a classical economist that investment is built upon on the level of returns that an investor gains and expected, which is based on the cost of investment plus the risk that could be tolerated by an […]

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BOOSTING THE PRODUCTIVITY AND COMPETITIVENESS OF THE GARMENT INDUSTRY IN SRI LANKA

Sunday, October 25th, 2020

BY EDWARD THEOPHILUS When evaluates the export industry structure of Sri Lanka, we would find that the industry has been instigated changes in the market structure since the early 1960s with the results of foreign advice as well as findings of domestic researches. This changing trend has been continually incorporating new industries into the sector. […]

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WASTING FUNDS FOR THE SCHOLARSHIP EXAMINATION AND THE REQUIREMENT OF SPENDING FUNDS FOR THE IMPROVEMENT OF TEACHER QUALITY

Monday, October 19th, 2020

BY EDWARD THEOPHILUS The scholarship examination has become a stressful test for parents, teachers, students, and the government.  Many people in the country say it is an examination of parents as the interest of parents is greater than students take the test. Generally, the test may be a method of determination of the competitive quality […]

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EDUCATION REFORMS AND INTER-RELIGIOUS AND ETHNIC RECONCILIATION IN SRI LANKA

Sunday, October 11th, 2020

BY EDWARD THEOPHILUS Mahinda Rajapaksa, the Prime Minister of Sri Lanka, has recently made a public statement that the establishment of deviated schools for kids in different religious and ethnic groups was a major reason to deflect society according to religions and ethnic groups.  The policy created many issues in the process of building a […]

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ADVANTAGES OF UNDERSTANDING BANK CREDIT POLICIES TO AVOID PROBLEMS IN THE FINANCE SECTOR

Wednesday, October 7th, 2020

BY EDWARD THEOPHILUS A few months ago, the country-wide highlighted problem that was directed to the president was difficulty in obtaining credit facilities for the small business sector and neglecting small business communities by organized banks in the country. The issue has been widely discussed by bankers as well as policy-makers of the country.  The […]

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IS JVP A POLITICAL PARTY THAT DEVIATED FROM THE TRADITIONAL LEFT POLITICS AND DEVELOPMENT ORIENTED?

Monday, September 28th, 2020

BY EDWARD THEOPHILUS It is amorphous what the objectives of traditional left political parties when they were established in Sri Lanka? People of Sri Lanka had been adapted to feudalism in politics and administration since Kalinga rule, and generally, they did not prefer a revolutionist administration that turns the country to upside down.  Many historians […]

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BUILDING A VALUE EDUCATION STRUCTURE BASED ON AUSTRALIAN VALUES

Monday, September 21st, 2020

BY EDWARD THEOPHILUS President Mr. Gotabaya Rajapaksa concerns education reforms, and I posted several articles on this website, regarding the reforming agenda, and my concern was directed to declining values in Sri Lanka’s society.  If value education included the curriculum with primary, secondary, and TVET education that could be used accelerating economic development, and growth, […]

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HOW TO DETERMINE THE SECURITY THREAT TO INDIA?

Tuesday, September 15th, 2020

BY EDWARD THEOPHILUS The security threat to India is a quite complicated archetype and many people confuse with the term the security threat to India. The major reason people get confused about the nature of the threat is specifically delineated and people have a feeling it like a groping in the dark.   Since Indian independence […]

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EDUCATION REFORMS: TECHNICAL VOCATIONAL EDUCATION AND TRAINING IN HIGH SCHOOLS

Friday, September 4th, 2020

BY EDWARD THEOPHILUS Before elected to the president position, Mr. Gotabaya Rajapaksa broadly talked about technical vocational education and training (TVET). After the general election in 2020, the president has appointed two state ministers for education reforms and TVET system development, in addition to the minister of education.  TVET system has spread in many countries […]

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THE BLACK ECONOMY IN SRI LANKA: HOW IT IMPACTS ON THE MACROECONOMY.

Wednesday, August 26th, 2020

BY EDWARD THEOPHILUS A black economy could be described as economic activities in a country that the revenue flow from economic activities doesn’t officially add to the gross domestic product. The revenue generates from the black economy may connect with the official economy indirect way in some areas, for example, suppose a person buys a […]

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CONSTITUTIONAL REFORMS: SRI LANKA NEEDS ECONOMIC FEDERALISM AND POLITICAL ADMINISTRATION IN A UNITARY SYSTEM

Monday, August 17th, 2020

BY EDWARD THEOPHILUS Sri Lanka has been confronting critical issues in constitutional reforms since independence, and many issues were underwater until 1970, in spite of receiving a dominion status in 1947 with a written constitution, constitutional reforms seemed to be a demand of academic and students.  The constitutional reforms had been limited by the lack […]

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THE PROPOSAL TO ESTABLISH AN INDUSTRIAL DEVELOPMENT BANK (PART 1)

Saturday, August 15th, 2020

BY EDWARD THEOPHILUS Wide publicity has given a proposal to establish an industrial development bank in Sri Lanka by the Minister of Industries, Mr. Wimal Weerawansa, and it is a good ideological contribution from a politician, and the government must instigate the idea. An industrial development bank needs the country to stimulate investments in industries […]

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THE PROPOSAL TO ESTABLISH INDUSTRIAL DEVELOPMENT BANK (PART 2)

Saturday, August 15th, 2020

BY EDWARD THEOPHILUS When looks at the structures of various banks established in the country the proposed industrial development bank invite to consider a different structure, especially the proposed bank must get away from trading bank functions as Sri Lankan bankers, as well as the attitude of regulators’ have stuck with money creation and cheque […]

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THE CONCEPT OF MEGA CITIES: NEED INCLUDING FIVE CITIES WITH FURTHER EXPANDING AND DYNAMIC PLANNING

Monday, August 10th, 2020

BY EDWARD THEOPHILUS Mr. Gotabaya Rajapaksa, the president of Sri Lanka stated at the final rally of the election, held in Hambantota that the government of that he will form, has a plan to develop four Mega Commercial Cities, Colombo, Jaffna, Trincomalee, and Hambantota. This concept needs expanding to five cities including the North Western […]

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INDUSTRY CLASSIFICATION, INDUSTRY AUTHORITY, AND INDUSTRY POLICY DEVELOPMENT

Monday, July 13th, 2020

BY EDWARD THEOPHILUS In the 1980s, I attempted to develop industry averages in Sri Lanka, and the purpose of my effort was to support credit policy development, which needed to successful credit management in a government bank, where I had been working. When I was talking about industry averages, bank executives, and the government authority […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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. […]

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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 […]

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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 […]

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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 […]

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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 […]

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