{"id":50452,"date":"2015-12-24T13:32:03","date_gmt":"2015-12-24T19:32:03","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=50452"},"modified":"2015-12-24T06:08:45","modified_gmt":"2015-12-24T13:08:45","slug":"the-writing-is-on-the-wall-the-country-is-on-a-slippery-slope-to-hara-kiri","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2015\/12\/24\/the-writing-is-on-the-wall-the-country-is-on-a-slippery-slope-to-hara-kiri\/","title":{"rendered":"The writing is on the wall. The Country is on a slippery slope to Hara Kiri."},"content":{"rendered":"

ST\u200bOCK MARKET ( NOT ATTRACTIVE\u00a0ANYMORE\u00a0TO FOREIGN & LOCAL\u00a0INVESTORS)<\/em><\/span>
\n QUANTITATIVEVE EASING ( HEADING TOWARDS A DEBASED CURRENCY)<\/em><\/span>
\n WAGE RISE\u00a0 UNAFFORFDABLE\u00a0( GREEK SCENARIO)<\/em><\/span><\/h2>\n

The writing is on the wall. The Country is on a slippery slope to Hara Kiri.<\/p>\n

Like the Roman Emperor\u00a0Diocletian\u00a0\u00a0who\u00a0debased the country’s money and sent prices racing up, by producing extra copper coins to pay the salaries of state workers and soldiers. Sri Lanka’s central bank is now printing billions of rupees of pay a 10,000 rupee salary hike to state workers and enforce rate cuts<\/p>\n

“Price controls are a slippery slope. Where will the line be drawn?\u00a0 According to Anushka Wijesinha, Chief Economist at Sri Lanka’s Ceylon Chamber of Commerce –<\/p>\n

“Price controls are not a sustainable strategy for a competitive market-oriented economy.”<\/p>\n

Yahapalanaya Hoppers<\/strong><\/p>\n

\"yahapalanayahopper\"<\/p>\n

The hoppers of the ‘Yahapalanaya’ or ‘Good Governance’ regime are now smaller than the hoppers sold during the Rajapaksa administration.<\/p>\n

The hoppers are now smaller and thinner with some partly burnt, while the softer bump in the middle is also smaller or absent altogether. Some hopper makers have stopped giving lunu miris<\/em> (a salad made of onions and chili) with hoppers.<\/p>\n

The most dangerous results of price controls, which cannot be followed in practice to keep people supplied are that they make previously law-abiding citizens lose respect for the law turning into ‘black marketers’, encouraging a lawless society.<\/p>\n

After 30+ years of Death Destruction and Despair the Country entered a period of Capitalization to pay dividends\u00a0for the future Generations to benefit by\u00a0 embarking on mega\u00a0Infrastructure projects an absolute necessity if Sri-Lanka hopes to attract Foreign and Local\u00a0investors to establish Commercial Enterprises that will\u00a0provide employment to\u00a0the people. If unemployment soars to record levels\u00a0and the feel good factor fades away the youth of the country in their desperation will resort to ugly means for their daily bread.<\/p>\n

$ 600M WB loan hits snags<\/h2>\n

Ceylon Finance Today: The outcome of Sri Lanka’s budgetary support \/policy aid discussions with the World Bank may get delayed due to some bureaucratic issues, Treasury Secretary Dr.R.H.S. Samaratunga told Ceylon FT yesterday.
\n“Our year end budget deficit is well over the target than expected. It is mainly due to fulfilment of the present government’s 100 days programme promises,” he said.<\/p>\n

$ 600M WB loan hits snags<\/p>\n

By Ishara Gamage
\nCeylon Finance Today: The outcome of Sri Lanka’s budgetary support \/policy aid discussions with the World Bank may get delayed due to some bureaucratic issues, Treasury Secretary Dr.R.H.S. Samaratunga told Ceylon FT yesterday.
\n“Our year end budget deficit is well over the target than expected. It is mainly due to fulfilment of the present government’s 100 days programme promises,” he said.
\nSamaratunga said that final budget deficit figure can be disclosed after Christmas. Speaking to the “Ceylon FT”, Central Bank of Sri Lanka (CBSL) governor Arjuna Mahendran earlier said that Sri Lanka can seek a US$ 600 million World Bank (WB) budgetary support programme which is currently being finalized by the Finance Ministry and the WB.
\n“Our external resource department currently is having very fruitful discussions with the WB, but the final outcome may get delayed due to some bureaucratic issues concerning both parties,” Samaratunga said. He however didn’t disclose what this bureaucratic entanglement was, nor the amount…sought for by the government.<\/p>\n

Instead, Samaratunga said that Sri Lanka can seek a further US$ one to two billion additional WB funding as low cost development assistance.
\nMeanwhile, Finance Minister Ravi Karunanayake recently told a forum in Colombo that the budget deficit will be around 6.8 % of GDP for this year, higher than the budgeted 4.4 %.<\/p>\n","protected":false},"excerpt":{"rendered":"

ST\u200bOCK MARKET ( NOT ATTRACTIVE\u00a0ANYMORE\u00a0TO FOREIGN & LOCAL\u00a0INVESTORS) QUANTITATIVEVE EASING ( HEADING TOWARDS A DEBASED CURRENCY) WAGE RISE\u00a0 UNAFFORFDABLE\u00a0( GREEK SCENARIO) The writing is on the wall. The Country is on a slippery slope to Hara Kiri. Like the Roman Emperor\u00a0Diocletian\u00a0\u00a0who\u00a0debased the country’s money and sent prices racing up, by producing extra copper coins to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-50452","post","type-post","status-publish","format-standard","hentry","category-forum"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/50452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=50452"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/50452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=50452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=50452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=50452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}