Notable
Unless nipped in the bud, currency depreciation will lead to political instability
The priviledge of 'Government Acceptance' should be ended to stop the next default
Hunky dory depreciation is due to a flaw in the exchange rate policy
Spreading cost-push Mercantilism may help macro-economists escape accountability but it will not help the masses
The high nominal interest rate which is a function of monetary instability and destruction of domestic capital
In one case matters 15 years old were raised. He ultimately simplified his affairs, and retreated from active business
Cutting VAT without changing the law to display tax separately may lead to them from being pocketed by businesses
A central bank with 'instrument independence' can print money at will
Dedollarization and monetary policy modernization could turn the latest export powerhouse, Cambodia into a Sri Lanka
Sri Lanka's inflation was the same as the US, before IMF's Second Amendment misled macroeconomists into bad anchors
Exchange controls and depreciation, is sad indictment of a knowledge gap in the 'age of inflation'.
The tragedy of the ungovernable third world with unsound money
In Sri Lanka and pegged countries, rate cuts also trigger outmigration as currencies collapse
Deeper haircuts are not a guarantee against future defaults
Outlawing central bank swaps should be a key measure in preventing a second default
Stabilization provide fertile grounds to elect the fringe
| Latest | Last | |
|---|---|---|
| US Dollar | 331.7485 | 330.8514 |
| UK Pound | 443.7468 | 438.3450 |
| Euro | 372.5204 | 371.0168 |
| Yen | 2.0969 | 2.0916 |
| Aus Dollar | 233.0533 | 231.1659 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.4948 | 3.4202 |
| Korean Won | 0.2499 | 0.2479 |
| Oman Rial | 861.6397 | 859.3320 |
| Saudi Riyal | 88.4403 | 88.0955 |
| UAE Dirham | 90.3209 | 90.0766 |
| pts | % | |
|---|---|---|
| S&P SL20 | 5,656.91 | -0.43% |
| CSE All Share | 19,927.30 | -0.28% |
| Turnover Rs | 1457.79 million | 1193.67 million |
| Latest | Last | |
|---|---|---|
| 3-m bill | 7.61 | 7.84 |
| 6-m bill | 7.91 | 8.26 |
| 12-m bill | 8.23 | 8.3 |
| 3-yr bond | 9.24 | 9.25 |
| 5-yr bond | 9.82 | 9.56 |
| 8-yr bond | 10.50 | 10.48 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 7.70 | 7.69 |
| Gilt Repo | 7.74 | 7.72 |
| I-m SLIBOR | - | - |
Every time the US engaged in bad policy Sri Lanka was hit
Sri Lanka should impose counterparty limits to liquidity tools and charge a premium
central bank essentially earns money to pay salaries essentially from seigniorage
A positive inflation target denies private sector productivity gains to the poor
At the moment the central bank is providing monetary stability seen in the exchange rate and inflation
Before the Second Amendment IMF could
Tax slabs should keep pace with inflation, dependent allowances should be considered
Deficits do not rise much in the year that a currency crisis is triggered, but in the stabilization year
Targeting GDP with easy money dates back to Scottish Mercantilist John Law and fully flexible policy to James Steuart.
High direct tax rates, capital consumption taxes, are not a substitute for monetary stability
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