Author Archive for EDWARD THEOPHILUS

HOW TO GET OUT OF THE CURRENT ECONOMIC CRISIS IN SRI LANKA

Monday, May 16th, 2022

BY EDWARD THEOPHILUS It is reported that Sri Lanka has a gigantic economic crisis. The major reason is the mismanagement of the economy since 1978, and money printing without control began in the late 1980s and has been continued by later governments.  There are reported cases in that the Rajapaksa family associated with investment projects […]

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MISUNDERSTANDING DEMOCRACY AND COMPLICATED ISSUES IN SRI LANKA

Wednesday, April 27th, 2022

BY EDWARD THEOPHILUS The concept of democracy for government administration arrived in Sri Lanka with foreign invasion, especially by Europeans.  In the book of John Doily, the sketch of the Kandian Kingdom attempted to give reasonable details of the system of administration in Sri Lanka in the past and it indicated that Sri Lanka had […]

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COMPARATIVE ECONOMIC DATA AND TRUTH ABOUT THE HUMAN CONDITION IN SRI LANKA

Tuesday, April 12th, 2022

BY EDWARD THEOPHILUS  The study on the economic history shows that there have been fluctuations in economic growth from time to time and people in the world experienced negative and positive economic outcomes resulting from fluctuations. The changes in economic prosperity either positively or negatively impact human lives. This reality could be seen in all […]

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SEEKING FINANCIAL SUPPORT FROM THE IMF FOR SRI LANKA

Sunday, February 27th, 2022

BY EDWARD THEOPHILUS The history of the International Monetary Fund indicates that it was established (1944) when there was a crisis in the international financial system in the 1930s, France and associated countries attempted to devalue and revalue national currencies to gain trade advantages using the international financial system. At that time there was no […]

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COULD SRI LANKA BECOME A COMPETITIVE ECONOMY IN ASIA

Sunday, February 13th, 2022

BY EDWARD THEOPHILUS An economic symposium conducted in Colombo a few years ago especially focused on vital issues related to the country. The issues discussed were foreign debt, regulation, export performance and attracting foreign investment also included. Sound advice and views of economists were encouragement for competition, reducing the cost of debt service and promoting […]

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COULD SRI LANKA BECOME A COMPETITIVE ECONOMY IN ASIA PART 2

Sunday, February 13th, 2022

BY EDWARD THEOPHILUS Bulky ownership of the banking market of Sri Lanka is in the government hand. This includes as Bank of Ceylon, Peoples Bank, National Savings Bank and several development banks, investment banks and long-term financial institutions such as mortgage and national development banks. As the government is not in a position to provide […]

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SHOULD PEOPLE GIVE A CHANCE TO JVP FOR GOVERNING THE COUNTRY?

Monday, January 10th, 2022

BY EDWARD THEOPHILUS I read in the media a specific cry that focused on giving a chance to JVP for governing the country. It is a highly responsible statement and why responsible statement published in the media? What is the logic behind this cry? People do not know speciously about this cry, but the cry […]

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OLYMPIC AND POLITICS

Monday, December 13th, 2021

BY EDWARD THEOPHILUS The Olympic games have been subjected to politics since 1936, the refusal of some Western countries to boycott the Winter Olympics (2022) in China is the newest politics and China has reacted that countries like Australia, the US, Canada and New Zealand would be subjected to consequences, and the politics in Olympics […]

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MAINTAINING DUAL EXCHANGE RATES IN SRI LANKA

Friday, December 10th, 2021

BY EDWARD THEOPHILUS Recently, the Central Bank of Sri Lanka has announced it will pay Rs.10 more than the official buying rate for US Dollar remittances to Sri Lanka, and people working overseas are confused with the new practice because the new exchange management regime has not shown that currencies, which remit to Sri Lanka […]

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HOW DOES SINO- INDIAN CONFLICT NEGATIVELY INFLUENCE ON ECONOMIC DEVELOPMENT IN SRI LANKA

Thursday, December 9th, 2021

BY EDWARD THEOPHILUS The conflict between India and China had not been reported in extended history as we understood, and it recorded in the current era after the independence in 1947, why was an unending conflict originated was also a difficult question to answer, and whether it will be ended soon or later is a […]

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SRI LANKA NEEDS A UNITED ADMINISTRATION WITHOUT POLITICAL PARTIES

Sunday, November 28th, 2021

BY EDWARD THEOPHILUS Political parties emanated with a variety of policies for transforming political administration from dominion or totalitarianism to a parliament rule as a symbol of democracy. A parliament rule comprises representatives of people who may be elected by the votes of the people. Democracy is a complicated word with different applications.   Party […]

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COMBINING ANTI-DISCRIMINATION LAWS IN THE PROPOSED NEW CONSTITUTION AS A SUCCESSFUL SOLUTION TO ETHNIC AND RELIGIOUS PROBLEMS IN SRI LANKA PART 1

Friday, November 19th, 2021

By EDWARD THEOPHILUS It has been reported that a draft constitution has felicitously been completed by the constitutional committee, which was appointed by the president. The draft constitution was written by lawyers who were capable of legal drafting and critically looking at legal issues in the document. When drafting a constitution, the legal aspect is […]

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COMBINING ANTI-DISCRIMINATION LAWS IN THE PROPOSED NEW CONSTITUTION AS A SUCCESSFUL SOLUTION TO ETHNIC AND RELIGIOUS PROBLEMS IN SRI LANKA PART 2

Friday, November 19th, 2021

By EDWARD THEOPHILUS The basis for ethnic problems in the world appears to be no other reason than minority ethnic communities feel they are discriminated against by ethnic or religious differences by the majority. The government doesn’t purposely discriminate against people providing education, employment, various economic benefits, and many things as they relate to different […]

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COMBINING ANTI-DISCRIMINATION LAWS IN THE PROPOSED NEW CONSTITUTION AS A SUCCESSFUL SOLUTION TO ETHNIC AND RELIGIOUS PROBLEMS IN SRI LANKA PART 3

Friday, November 19th, 2021

By EDWARD THEOPHILUS When analyzing Sri Lanka’s ethnic problem, nobody can ignore that the problem is fuelled by outside elements, which might be identified as Western forces including America, Britain, and others, however, Indian and Chinese intelligence services may involve with it because they have an interest using Sri Lanka for political purposes, The Western […]

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THE BUDGET AND THE CONCEPT OF PRODUCTION ECONOMY

Saturday, November 13th, 2021

BY EDWARD THEOPHILUS In Sri Lanka, the budget has been given the wrong impression to people that it is a way of decreasing or increasing prices of consumables or otherwise providing various reliefs to proletarians. However, it has not come to a reality as people expect. This impression came to people’s minds, as the many […]

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BUILDING AN EXPORT ECONOMY IN SRI LANKA

Tuesday, November 9th, 2021

BY EDWARD THEOPHILUS Building a strong export economy is a positive strategy and a gigantic challenge to revive the prosperous status of the economy. First, policymakers need to understand that an export economy comprises a broader spectrum that focuses on the export of goods and services and the effort needs to stress on many areas […]

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STANDING ON PAST ISSUES AND RELUCTANCE TO CHANGE

Monday, November 1st, 2021

BY EDWARD THEOPHILUS The dynamic nature of the world shows that changing attitudes and many occurring are natural in the world and evidence in history proves that people had been changed their thinking patterns or attitudes towards various issues throughout history. Despite this nature, the people of Sri Lanka are stuck with past issues and […]

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A REFERENDUM ON ORGANIC FARMING

Sunday, October 24th, 2021

BY EDWARD THEOPHILUS Organic farming is the best method that should apply in agriculture, but immediately changing the current practices may create problems for farmers in Sri Lanka. In history, there were no inorganic fertilisers and agrochemicals. Since the late 1950s, farmers have been used chemical fertiliser and agrochemicals with supports of government advisors and […]

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THE TASK OF THE ELIMINATING BUDGET DEFICIT

Monday, October 18th, 2021

BY EDWARD THEOPHILUS Mr. Basil Rajapksha, the Minister of Finance, stated that his intention is to eliminate the budget gap or deficit in Sri Lanka. It is a good fiscal motivation, and the task is difficult to achieve and it may be an art of discourse because the budget deficit of Sri Lanka cannot be […]

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WHAT ARE THE REASONS FOR A HIGH-RISK BANKING MARKET IN SRI LANKA?

Sunday, October 17th, 2021

BY EDWARD THEOPHILUS I read an interview had with Mr. Lakshman Silva, the chairperson of Bankers Institute, wherein he described the banking system in the country as in a high-risk situation. What factors have been contributed to the high risk not described, but two points mentioned were the low economic performance of the country and […]

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SRI LANKA NEED ECONOMIC DISCIPLINES

Thursday, October 7th, 2021

BY EDWARD THEOPHILUS Many Sri Lankans have misunderstood the meaning of economic disciplines and they also misapprehend economic disciplines in broader terms. When introduced market economic strategy in 1978, the attention of policymakers was broadening trade policies relating to imports and other aspects of trading, including investments. The simple purpose of economic liberalization in connection […]

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LIMITING PARLIAMENT REPRESENTATIVES TO 100 BY NEW CONSTITUTION

Friday, September 24th, 2021

BY EDWARD THEOPHILUS Sri Lanka has a critical debate about the number of representatives that should be in the parliament and the debate has focused on various matters concerning many matters of representatives such as minimum education qualifications, the limits of functional authority. The public has disappointed the value of services and the productivity generated […]

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CHANGING THE OPERATION POLICY OF THE IMF MAY NEED TO CONSIDER

Monday, September 20th, 2021

BY EDWARD THEOPHILUS The purpose of establishing the International Monetary Fund was a good policy design because there had been conflicts in the international financial management relating to exchange rate determination and gaining trade advantages.  Economically, powerful countries attempted to take power by determining the exchange rate for their currency units. This situation was encountered […]

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COULD POVERTY BE ELIMINATED?

Saturday, September 11th, 2021

BY EDWARD THEOPHILUS After reporting Mr. Susil Siriwardane passed away, the debate on the elimination of poverty re-emerged and it might be for a short period because the condition of poverty in the country has not been eliminated so far. Mr. Susil Siriwardane attempted to reduce poverty through his project JANASAVIYA and Mr.R. Premadasa assisted […]

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BUILDING A DIGITAL ECONOMY IN SRI LANKA

Friday, September 3rd, 2021

BY EDWARD THEOPHILUS Mr. Namal Rajapaksa recently expressed that he intends to build a digital economy in Sri Lanka. It is an astonishing challenge and the task will attract enormous resources and time. It is not a simple task in the way the Minister assumes because Sri Lanka has no resources to build a digital […]

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POLICY EMINENCE OF MR. GOTABAYA RAJAPAKSA

Thursday, August 26th, 2021

BY EDWARD THEOPHILUS Since the election of Mr.Gotabhaya Rajapaksa as the president of Sri Lanka at the end of 2019, people expected from him he will launch Sri Lanka in an era of new policy implementation. People expected the eminence of the political administration compared to previous presidents. The excellent feature of his administration is […]

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REGULATING MICROFINANCE (CREDITS) AND ENHANCEMENT OF PRODUCTIVITY OF MICRO BUSINESS PART 1

Wednesday, August 11th, 2021

BY EDWARD THEOPHILUS Microfinance for various small businesses (including agriculture) has been a vital support for the economic development and the growth of Sri Lanka since the beginning of the economic activities of the country. Microfinance helped non-economic purposes such as giving dowry, spending for weddings, funerals, and many other purposes helped in the management […]

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REGULATING MICROFINANCE (CREDITS) AND ENHANCEMENT OF PRODUCTIVITY PART 2

Wednesday, August 11th, 2021

BY EDWARD THEOPHILUS The major areas of regulating microfinance should be included. Before regulating the operation process of microfinance, it requires identifying the lender and the business format of lenders that may be a sole proprietorship, partnership or a private company, or public company. Many micro-financing businesses are not identified as business owners due to […]

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ABUSE OF SOCIAL MEDIA AND DEVELOPING COMMON CONTROLS

Monday, August 2nd, 2021

BY EDWARD THEOPHILUS Social media, which has been originated in the last quarter of the 20th century, started giving justice to ordinary people who were restrained to express his /her views in major media (Print, Radio, and Television). The major media represented owners’ views and sometimes advertisers’ points of view regarding products and services and […]

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CHALLENGES OF ELECTRONIC DELIVERY OF EDUCATION IN SRI LANKA

Sunday, July 25th, 2021

BY EDWARD THEOPHILUS The COVID-19 pandemic urged social distancing because experts on the epidemic believed that social integration through various methods will agent the spread of the virus, and it considers that the social distancing any method would be supported to control the virus. In addition, there are health and hygiene rules that are difficult […]

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