An Echelon Media Company
Tuesday February 27th, 2024
Opinion

Sri Lanka central bank salary hikes show lack of accountability for its actions

central bank essentially earns money to pay salaries essentially from seigniorage

February 26, 2024 9 min read

Sri Lanka should protest the 7-pct annual inflation target, not a 3-pct VAT hike

A positive inflation target denies private sector productivity gains to the poor

February 19, 2024 10 min read

Sri Lanka is recovering, but threats from central bank, US policy

At the moment the central bank is providing monetary stability seen in the exchange rate and inflation

January 22, 2024 14 min read

Sri Lanka top doctor seeks equality in healthcare

He urged fellow doctors to ensure a change of attitude to end discrimination by educating other health care staff

January 20, 2024 3 min read
Creative industries remain an untapped sector in Sri Lanka

They create employment, income, increase export earnings, promote innovation and contribute to societal wellbeing

Sri Lanka, the Wedding Isle

Every wedding is special for participants and ordinary for the rest of the world.

Why the IMF is hated now and is backing bad money in Sri Lanka and Latin America

Before the Second Amendment IMF could

Bellwether
December 19, 2023 13 min read

Lanka’s Blue Whale: Eight Evolutionary Stages (Part I)

Science is learning more and more about how these astonishing animals came to exist in the first place

Mark Hager
November 15, 2023 10 min read

Sri Lanka VAT increase is better than killing economic freedoms with income tax

Tax slabs should keep pace with inflation, dependent allowances should be considered

Bellwether
November 9, 2023 7 min read

Sri Lanka's rupee depreciation and economic crises; the deficit lie

Deficits do not rise much in the year that a currency crisis is triggered, but in the stabilization year

Bellwether
October 23, 2023 12 min read

Sri Lanka's new central bank act with John Law clause reverts to classical Mercantilism

Targeting GDP with easy money dates back to Scottish Mercantilist John Law and fully flexible policy to James Steuart.

Bellwether
October 17, 2023 13 min read

Sri Lanka police in dire straits as three-times lucky IGP gets extension: focus

Our police correspondent examines the crisis in the department

Police Correspondent
October 15, 2023 4 min read
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Sri Lanka should be cautious in expanding socialist leaning taxes

High direct tax rates, capital consumption taxes, are not a substitute for monetary stability

Bellwether
October 9, 2023 13 min read

Sri Lanka's trade and cultural links across the Indian Ocean from antiquity

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October 8, 2023 7 min read

J.P. Narayan: Socialist Gandhism

Marxist Critic of Gandhi Becomes an Adherent, But Finally Finds Transformational State Power Indispensable

September 11, 2023 34 min read

Sri Lanka should be careful in over-relying on GFN at the expense of stability: Bellwether

Countries where inflationists cannot engage in macro-economic policy with money printing have low debt

Bellwether
September 11, 2023 7 min read
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 315.8517 316.0679
UK Pound 401.4574 401.2833
Euro 343.4590 344.0649
Aus Dollar 209.1156 209.2045
Yen 2.1097 2.1124
Source: Central Bank/Indicative
Latest Last
Indian Rupee 3.6453 3.5932
Korea Won 0.2342 0.2292
Oman Rial 780.3569 769.4973
Saudi Riyal 80.1114 78.9849
UAE Dirham 81.7952 80.6569
Source: Central Bank/Indicative
pts %
S&P SL20 2,573.80 1.00%
CSE All Share 9,073.41 0.65%
Turnover Rs million 1,591,766,524.95 1,029,335,694.32
Source: CSE
Latest Last
3-m bill 21.72 21.79
6-m bill 19.55 20.31
12-m bill 17.72 19.28
5-yr bond 21.00 22.53
8-yr bond 19.42 20.55
Source: Central Bank/Indicative
today yesterday
Overnight Money 13.93 14.00
Gilt Repo 13.50 14.00
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka draws up law on online "untruths", religious hurts

Law will arbitrate on the truth or otherwise of various statements published online

September 5, 2023 1 min read

Sri Lanka interest rates are dictated by the IMF reserve target, not inflation

It is a shame that country with a 20-pct savings rate cannot maintain reserves and has to depreciate the currency

Bellwether
August 14, 2023 15 min read
1

Sri Lanka tables DDR tax hike amendment in parliament

The amendment was published on the government gazette on July 17

August 9, 2023 2 min read

Sri Lanka legislators should deny high inflation goal independence to the central bank

If parliament rubber stamps a 4-6-pct inflation target, a second default is more certain

Bellwether
July 31, 2023 12 min read

Sri Lanka central bank will be unaccountable as long it can punish victims

The new central bank goal and objective are a personification of the impossible trinity of monetary policy objectives

Bellwether
July 12, 2023 10 min read

Sri Lanka can cut rates now, keeping them down as credit picks up will hit rupee: Bellwether

Reserves can be collected by impoverishing the poor, or by taking in their savings

Bellwether
July 5, 2023 7 min read
1

Why is Sri Lanka's rupee appreciating?

Sri Lanka rupee appreciation explained

Bellwether
June 2, 2023 15 min read
2

Gandhi: The social logic of Ahimsa

From his axiom of ahimsa (non-violence), Gandhi derives two promising themes...

Mark Hager
May 18, 2023 28 min read
1

Sri Lanka's collapse in new sovereign default wave is not really China's fault: Bellwether

Mass sovereign default episode in the 1980s also followed a decade of bad money from the Fed

Bellwether
May 2, 2023 15 min read
1

Sri Lanka budget support IMF loans show worrying policy confusion : Bellwether

Converted budget support loans and conflicting PCs can lead to new external instability, discredit and derail reforms

Bellwether
April 18, 2023 13 min read
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