Georgetown University’s Devarajan on Sri Lanka Debt Crisis

Shanta Devarajan, Professor at Georgetown University, and also a member of Sri Lanka’s Presidential Advisory Group on Multilateral Engagement and Debt Sustainability, discusses steps that the country should take to avoid a hard default. He speaks with Shery Ahn and Paul Allen on “Bloomberg Daybreak: Asia”. (Source: Bloomberg)  

(0)Comments | April 12, 2022 1:24 pm

What the US Dollar crisis means for Sri Lanka’s importers and exporters

By Dr. Charitha Perera, Director – Transco Cargo Sri Lanka is in the midst of an economic crisis of unprecedented proportions today. Leading up to the crisis, the Central Bank of Sri Lanka kept the US Dollar frozen for a considerable period. This was when the Dollar was selling at the rate of Rs.203 and…

(0)Comments | April 6, 2022 11:44 am

St. John Baptist De La Salle – Patron Saint of Teachers

By Prof. Samitha Hettige The need for disciplined citizens is being widely discussed in Sri Lanka. It will make a; disciplined workforce, peaceful society and strong economy. At such a time, St. John Baptist De La Salle (1651 – 19719) who struggled for the cause is remembered with respect on his 303rd death anniversary on…

(0)Comments | April 4, 2022 1:48 pm

Business Sentiment – Relative Calm before the Storm?

We repeat: a resilient biz sector shows no signs of wavering amid multiple crises – not yet Whether you view the devaluation of the Sri Lankan Rupee, the prospect of some form of debt restructuring and consequently, an easing of the economic restrictions that have threatened to bring Sri Lanka Inc. to a grinding halt……

(0)Comments | April 1, 2022 4:52 pm

More foreign capital flowed into China in 2021 – UNCTAD

The Silk Road Journal by Mahika Ming According to Chinese trade sources the Peoples Republic of China (PRC) was ranked second largest foreign capital inflow destination in the world by the United Nations Conference on Trade and Development (UNCTAD) in 2021.   Recording a yearly increase of 32%, China has attracted more than USD 334 billion…

(0)Comments | March 28, 2022 10:10 am

Does ICT contributes for Sustainble Economic Growth?

By: Dr Pulasthi Gunawardhana Senior Lecturer, Faculty of Technology, University of Sri Jayewardenepura In modern society Innovation and Entrepreneurship are crucial for long-term economic development. In recent years, the progress of Information and Communication Technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows…

(0)Comments | March 22, 2022 1:20 pm

Resilience, creativity and talent will make Sri Lankan apparel thrive globally Interview with Sharad Amalean

Sri Lanka’s apparel sector contributes 6% to the country’s GDP and accounts for almost half of all merchandise exports. The sector provides direct employment to 350,000 workers and an additional 700,000 Sri Lankans receive livelihood opportunities as part of the larger supply chain. Sharad Amalean, Chairman of the Joint Apparel Association Forum (JAAF), talks about…

(0)Comments | March 21, 2022 6:25 pm

“It takes two hands to clap” – Chinese Proverb

The Silk Road Journal by Mahika Ming On the request of US President Biden, Chinese President Xi Jinping had a video call with his US counterpart on March 18th.  2022 marks the 50th anniversary of China (Peoples Republic) and USA relations which were initiated by President Nixon who visited Chairman Mao in 1972. During the…

(0)Comments | March 21, 2022 10:23 am

Shock Waves From War in Ukraine Threaten to Swamp Sri Lanka

Soaring oil, dipping foreign reserves jolt $81 billion economy Facing default, island-nation in talks with IMF for bailout Bloomberg – Russia’s war in Ukraine, which has caused a humanitarian crisis and convulsed global financial markets, is now threatening to crush an $81 billion economy more than 4,000 miles away in the Indian Ocean. Hit by…

(0)Comments | March 18, 2022 12:43 pm

Sri Lanka Seeks IMF Help, Dropping Refusal as Economy Worsens

Government discussed plan with visiting IMF officials Monday Forex reserves shrinking ahead of $1 billion bond due in July   Bloomberg – Sri Lanka is seeking financial support from the International Monetary Fund, reversing the government’s earlier resistance as efforts to bolster its foreign exchange reserves and manage looming debt payments have been complicated by…

(0)Comments | March 15, 2022 12:27 pm

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