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Friday August 19th, 2022
Bellwether

What Sri Lanka's IMF program should look like

Steep rate hikes are needed to save the rupee

April 7, 2022 15 min read

Sri Lanka has to work fast to contain multiple defaults as Tanzi bites: Bellwether

A flexible exchange rate fails because it is not rule bound

April 1, 2022 9 min read

Sri Lanka has to hike rates, ensure monetary fiscal co-ordination to help rupee: Bellwether

Monetary fiscal co-ordination comes from an International Monetary Fund

March 10, 2022 4 min read

Sri Lanka use of reserves for imports is a deadly false choice: Bellwether

Sterilized currency defence, without an accompanying rise in rates, spells disaster

January 31, 2022 17 min read
Sri Lanka's central bank needs accountability and restraint, not independence: Bellwether

The absolute discretion to print money through flexible inflation targeting cum output gap targeting has to be blocked

Sri Lanka can trigger food shortages as in medicines with new trade controls: Bellwether

Forcing food importers to use LCs can create food shortages.

Sri Lanka's central bank should guard against bankruptcy as Fed lights commodity fires

Sri Lanka's central bank is running out of reserves, a part of the remaining reserves are tied up in swaps, the country ...

Bellwether
April 19, 2021 25 min read

Sri Lanka debt crisis trapped in spurious Keynesian 'transfer problem' and MMT: Bellwether

In Sri Lanka politicians are blamed for the country's economic ills and rising default risk, but it is only partly their...

Bellwether
March 15, 2021 23 min read

How to fix Sri Lanka's debt crisis, unstable peg, avoid sudden stop event: Bellwether

Sri Lanka is facing a monumental state failure after denying economic and civil freedoms for decades

Bellwether
February 24, 2021 25 min read
3

Solving Sri Lanka's debt and monetary crisis sans the IMF, like Japan, Malaysia: Bellwether

The question is often asked whether Sri Lanka do without an International Monetary Fund program. It is certainly possi...

Bellwether
February 22, 2021 11 min read
1

Sri Lanka facing 2021 with reckless MMT, stimulus mania: Bellwether

Sri Lanka is heading for one of the biggest economic challenges in its history in 2021, with the central bank printing m...

Bellwether
January 26, 2021 15 min read

Why Sri Lanka cannot be a Singapore, a Chief Festus budget: Bellwether

Sri Lanka aspired to be a Singapore after liberalizing trade and ending a closed economy of the 1970s, but it all failed...

Bellwether
December 21, 2020 18 min read
5

Why Sri Lanka cannot be a Vietnam, Coronavirus response: Bellwether

Sri Lanka was at one time talking about trying to be a Singapore, and then a Malaysia, and now it is talking about tryin...

December 1, 2020 10 min read
5

Sri Lanka constitution making: how democracy does not equal freedom: Bellwether

In Sri Lanka when the elected ruling class tries to amend the constitution and amass greater power at the expense of ind...

Bellwether
October 19, 2020 13 min read

How Sri Lanka, Latin America was busted by Fed money doctors creating strongmen, anti-Americanism: B...

Sri Lanka's monetary instability, the rising cost of living, falling living standards and the resultant strikes, revolut

Bellwether
September 8, 2020 19 min read
1

Sri Lanka's triple shackles converge to slam economy in Coronavirus crisis: Bellwether

The three fetters that shackle Sri Lanka's economic growth, peace and general happiness; monetary instability, regime un...

Bellwether
August 26, 2020 10 min read
1
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Latest Last
US Dollar 368.7200 368.7038
UK Pound 441.2085 445.9100
Euro 373.6891 377.2130
Aus Dollar 257.1230 257.8056
Yen 2.7200 2.7465
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.5261 4.5461
Korea Won 0.2720 0.2742
Oman Rial 937.6502 937.5808
Saudi Riyal 98.2393 96.1467
UAE Dirham 98.2821 98.2748
Source: Central Bank/Indicative
pts %
S&P SL20 2,963.95 0.05%
CSE All Share 8,975.75 0.73%
Turnover Rs million 3,154,358,876.30 2,721,321,235
Source: CSE
Latest Last
3-m bill 26.11 26.24
6-m bill 27.06 26.52
12-m bill 27.87 27.36
5-yr bond 24.19 23.86
8-yr bond 24.68 24.21
Source: Central Bank/Indicative
today yesterday
Overnight Money 15.50 15.50
Gilt Repo 15.50 15.50
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka's economic consequences of the peace; monetary instability and trade lockdown: Bellwether

While Sri Lanka defeated the Tamil Tigers in 2009 and the Coronavirus in 2020 – the battle is not yet over – it is r...

Bellwether
July 23, 2020 6 min read

Sri Lanka growth stalls, per capita GDP drops US$200 in 2019 after monetary instability

Sri Lanka's per person gross domestic product had dropped 227 dollars to 3,852 dollars in 2019 after a the latest curren...

Bellwether
May 10, 2020 10 min read

Sri Lanka battered by unceasing 'regime uncertainty: Bellwether

When the government changes ground rules and conditions or the operating regime suddenly, like in Sri Lanka, it is very ...

February 26, 2020 11 min read

Sri Lanka needs monetary discipline to avoid further downgrades: Bellwether

Sri Lanka will face credit downgrades and possible sovereign default of dollar debt unless the highly unstable discretio...

Bellwether
November 27, 2019 6 min read

President throws monkey wrench at Sri Lanka central bank reforms: Bellwether

Sri Lanka had stability until July 2019 with cash withdrawn by the central bank to keep a soft-peg with the US dollar un...

Bellwether
August 27, 2019 21 min read

Nick Leeson-style losses at Sri Lanka's CPC raise big questions: Bellwether

Finance Minister Mangala Samaraweera started a price formula in 2018 May just as fuel price started to spike, but the Ce...

Bellwether
July 30, 2019 10 min read

Sri Lanka's path to debt and destruction paved by currency collapse, REER targeting: Bellwether

The collapse of Sri Lanka's soft-pegged rupee, partly due to policy errors of the Central Bank and partly due to the fal...

July 2, 2019 14 min read

Islamic State pan-nationalism slams into ethno-religious hate in Sri Lanka: Bellwether

In Sri Lanka, indoctrination and hate targeting communities not considered to be the 'core-nation' as defined in ethno-r...

Bellwether
June 20, 2019 25 min read

Sri Lanka should phase out term repo deals and allow rates to fall: Bellwether

Sri Lanka's should phase out term repurchase deals now that bank credit has slowed, allowing the central bank to be a ne...

Bellwether
May 29, 2019 7 min read

Hayek's warning: lost generation economics kill Sri Lanka's social market economy attempt: Bellwethe...

Sri Lanka's Central Bank which has printed tens of billions of rupees in 2018 to boost economic activity artificially ju...

Bellwether
May 9, 2019 15 min read