Fitch Ratings: The refinancing risks of Fitch-rated APAC emerging market (EM) non-bank financial institutions (NBFIs) in China, India, Indonesia and Sri Lanka remain modest in aggregate despite higher reliance on short-term debt than other regions and high US dollar interest rates, Fitch Ratings says in a new report. We estimate total debt maturing in 2024…
By Nandana Padma Kumara Introduction Digital banking refers to the provision of financial services through digital platforms, such as online and mobile applications, enabling customers to manage their accounts and conduct transactions without needing to visit a physical branch. While the concept is not new, its definition continually evolves with technological advancements, expanding the capabilities…
Business Sentiment – Index Crosses Century Mark In the midst of the ruckus surrounding a pivotal presidential election, the IMF says that Sri Lanka’s macroeconomic policy reforms are beginning to bear fruit, anticipating agreements with external commercial creditors soon. This statement preceded the recently concluded second review of the International Monetary Fund’s US$ 2.9 billion…
By Jithendra Antonio Sri Lanka is at a critical juncture. Ranked 116th out of 182 countries on the climate vulnerability index, the nation faces escalating threats from climate change, including frequent droughts, floods, and other extreme weather events. These climate-induced disruptions pose significant risks to economic activities, potentially stalling progress and destabilizing key industries. In…
By Prof. Samitha Hettige The European Union elected new members to the EU parliament last week. The French dissolved their parliament & the British are expected to follow. British could see Sri Lanka from within & above. Probably they introduced democratic governance in SL with the hope of preventing future conflicts. However, Sri Lankans kept…
By Ranga De Silva After completing advanced level (A/L) education in school, higher education is of the utmost importance to students to enhance career opportunities. Some students move immediately to employment, seeking avenues to fund higher education via employment earnings, while some directly move to higher education after school. According to the Department of Examinations,…
The 25 highest-value expenditure proposals in the budget speech for 2023 had a total allocation of LKR 49.3 billion. But for proposals to the value of 43.8 billion (89%) the government was not able to provide information on progress, according to the annual evaluation done by Verité Research. The state of Information In 2022, progress…
On June 12, the IMF board will sign off on Sri Lanka’s third disbursement under the current programme. But Sri Lanka is still failing on the governance improvements that are foundational for its economic recovery. According to the latest update of the ‘IMF Tracker’ by Verité Research, Sri Lanka verifiably failed to meet 25% of…
By Prof. Samitha Hettige President JRJ as Minister of State consulted Indian Economist B.R. Shenoy to know the best economic policy for SL in 1966. His advice to reverse the nationalizing trend started in 1956 wasn’t taken seriously but China observed all trends & liberalized its economy in 1979. Today China is world’s 2nd largest…
By Jithendra Antonio Fossil fuels, which primarily have been cornerstone of industrial development and modern society for over a century, is well on its way to become the very reason for its eventual downfall. The environmental and economic costs associated with these fuels are alarming. Fossil fuels emit Greenhouse Gases which trap heat, leading to…
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