JACKSON HOLE, Wyo., Aug 29 (Reuters) – The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets. That price is still worth paying, however. Central banks spent…
By Prof. Samitha Hettige The Hatton National Bank opened its Sri Jayawardenepura (Kotte) branch in the early 1990s. Media advertisements announcing the event included a poem from the historic “Selalihini Sandeshaya” in which Sri Jayawardenepura was referred to as the city of rich Buddhists (Ref. Media). The city became a rich economic hub along the…
an article by World Federation of Exchanges New data published by the World Federation of Exchanges (WFE), the global industry group for exchanges and central clearing counterparties, lays bare the full economic impact of the Ukraine war upon a global economy still trying to recover from the Covid-19 pandemic. The WFE’s Market Highlights report for…
By Prof. Samitha Hettige The Peoples Republic of China’s Northeast includes three provinces namely Heilongjiang, Jilin and Liaoning (Chinese Navy northern front named its first Aircraft carrier as “Liaoning”). This region was a powerhouse of traditional industries such as steel, automobile, aircraft manufacturing, shipbuilding and petroleum refining etc. (Ref. Chinese sources). Due to problems such…
By Dr. Roshan Rajadurai Inflation looms large over every Sri Lankan as the price of food and other essentials continues to skyrocket. At the center of this historic economic, political, social and humanitarian disaster are a series of deeply flawed and widely criticized policy decisions which have plunged the nation’s agriculture sector into complete disarray….
The recently released Q2 data of the House Price Index of LankaPropertyWeb revealed that the overall selling prices of apartments increased by 45.17% when compared to Q2 of 2021. According to developers and real estate agents that LankaPropertyWeb has been in contact with, these price increases are largely a cause of the demand created for…
By Prof. Samitha Hettige Sri Lanka approaching the IMF and the World Bank and the recommendations which followed indicating SL should work closely with China is being widely discussed at present. Bangladesh which supported SL during the recent months is the latest South Asian nation to approach the IMF for assistance to recover from the…
Perceived Economic Opportunity Index 2022 [PEOI] Q2: April 01 to June 30, 2022 The Foundation of Economic Freedom in Sri Lanka (FEFSL) presents here a summary of perceptions of the people of Sri Lanka about their own and the nations’ future as at the second quarter of 2022. This monthly nation-wide tracking study, reported quarterly,…
Washington based International Monetary Fund (IMF) recently stated that Sri Lanka should immediately talk with the Peoples Republic of China to get relief through debt restructuring to come out of the crisis at this very moment. These views came when SL approached the US based lending agency established after WWII to finance countries in need….
Back then, Thailand’s devaluation led to a global market collapse. A sequel might be in the works. Bloomberg – Pakistan is scrambling for a bailout to avert a debt default as its currency plummets. Bangladesh has sought a preemptive loan from the International Monetary Fund. Sri Lanka has defaulted on its sovereign debt and its government has collapsed. Even India…
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