Author Archive for EDWARD THEOPHILUS

REINTRODUCING THE SIX YEARS PROGRAM OF INVESTMENT (1955-1960)

Thursday, August 11th, 2022

BY EDWARD THEOPHILUS I read content in many publications that Sri Lanka has an economic crisis (2022) that is unimaginable to the government’s economic advisors what should do to get out of the problem. If the government economic advisors knew about this situation before 2022, why didn’t they educate the policymaking process of the country? […]

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ESTABLISHING A PEOPLE’S CONGRESS IN SRI LANKA

Monday, August 8th, 2022

BY EDWARD THEOPHILUS The concept of a people’s congress has been related to political administration in socialist countries and they functioned to consider the ideas of people regarding any work. Before the collapse of the Soviet Union, many socialist countries had a people’s congress that was a similar constitutional institution to a parliament which is […]

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THE MACROECONOMIC FRAMEWORK FOR SRI LANKA NECESSITOUS

Tuesday, August 2nd, 2022

BY EDWARD THEOPHILUS Financial assistance for Sri Lanka from international financial institutions has been conditioned to have a macroeconomic framework for the country. Although the macroeconomy is a broader area like a jungle as stated by R.G.D.Allen in his famous title Macroeconomics, many countries have developed their macroeconomic framework,   considering the vital structural factors of […]

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WHAT IS THE SOLUTION FOR STAGFLATION IN SRI LANKA?

Sunday, July 31st, 2022

BY EDWARD THEOPHILUS Stagflation means double-digit inflation seems in many countries as a result of the post-Corona pandemic, and the temporary solution to this situation being used by many countries is to increase subsidies to lower income earners, how these countries spend for subsidies (Source of funds) has not been disclosed and it could assume […]

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WHAT ARE THE REFORMS NEEDED TO GET BACK SR LANKA TO THE STABILITY LEVEL? PART TWO

Wednesday, July 27th, 2022

BY EDWARD THEOPHILUS Part one of this article focused on several significant points that have been developed in the country since the colonial era that are vital to understanding the background for reforms needed in the country. The working knowledge of English is essential to reduce the population of the country as a strategy to […]

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WHAT ARE THE REFORMS NEEDED TO GET BACK SR LANKA TO THE STABILITY LEVEL? PART ONE

Thursday, July 21st, 2022

BY EDWARD THEOPHILUS Although Sri Lanka is a small country with a limited land area and resources it needs radical reforms to achieve stability and expected development. It is needed to understand that stability in this dynamic world is like a dream. The country has a long history of seditions (Aragala) and the result of […]

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WHAT ACTIONS WILL TAKE AGAINST RAJAPAKSA REGIME?

Wednesday, July 6th, 2022

BY EDWARD THEOPHILUS When two people get together there is a question that each other ask. The question is what actions by the government would take against the Rajapaksa regime? Many information published on social media may not be true and it would be a willful fabrication. But, Sri Lankans believe that no smoke could […]

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SRI LANKA NEED TO AGREE WITH THE HARSH CONDITION OF IMF

Tuesday, July 5th, 2022

BY EDWARD THEOPHILUS Despite the views of politicians and others, Sri Lanka should be forced to agree to strong conditions for economic support. Historical information indicates that the welfare economy has been operating against people working and many people in the country have been addicted to subsidies the government needs to change this situation. Subsidies […]

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THE PRIVATE SECTORS OF SRI LANKA IS EQUALLY RESPONSIBLE FOR ECONOMIC MANAGEMENT

Friday, July 1st, 2022

BY EDWARD THEOPHILUS According to the general understanding, the government sector and the private sector are equally responsible for the management of the economy, however, since the 1956 election, the responsibility of the management of the economy was unequally transferred to the public sector and this process was incurred by the nationalization of private enterprises, […]

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WHY DOES SRI LANKA NEED TO PRIVATIZE GOVERNMENT BANKS?

Wednesday, June 29th, 2022

BY EDWARD THEOPHILUS The current economic crisis in Sri Lanka is a consequence of misguided economic management based on deluded policies that have become operative since 1970 elected government and the management of government banks have been politicalized by the elected government and party members were attempting to control all affairs of banks, which were […]

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WHY WAS RAJAPAKSA GROUP SILENT WHEN MASSIVE ACCUSATIONS WERE DIRECT AGAINST THEM BY PEOPLE

Saturday, June 18th, 2022

BY EDWARD THEOPHILUS Tremendous accusations against the Rajapaksa family were directed by various people and no member of the Rajapaksa family came out and express a few words against the accusations. This silent situation supports people to believe that the Rajapaksa family has done tremendous bamboozling against the country and the obvious situation is they […]

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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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