An Echelon Media Company
Saturday October 1st, 2022
Bellwether

Sri Lanka to pick losers as omniscient elites drive interventionism to extremes: Bellwether

'A new type of superstition has got hold of people's minds, the worship of the state'

July 30, 2021 7 min read

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 ...

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...

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

February 24, 2021 25 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

Sri Lanka has to hike rates, tourism recovery will not help end forex crisis: Bellwether

At the current policy rates and sterilization of interventions, forex problems will not get better

Sri Lanka is recovering, Central Bank threat looms: Bellwether

Sri Lanka is on a recovery path, and this is the time when commercial bank credit picks up, the Central Bank cuts rates ...

Bellwether
June 20, 2018 12 min read

Sri Lanka's devaluationist REER targeting is a tiger's tail

With the rupee hitting new lows against the US dollar, driven by a REER-targeting devaluationist policy to hurt wage ear...

Bellwether
May 31, 2018 10 min read

Sri Lanka needs real ministers, a real cabinet and a Prime Minister to play monitor: Bellwether

Corruption in Sri Lanka's governments is partly due to the lack of an independent public service and permanent secretari...

Bellwether
April 23, 2018 6 min read

Sri Lanka's UNP pays the price for currency depreciation, REER targeting: Bellwether

Sri Lanka's central bank and policymakers of the United National Party sowed the wind from 2015, printing money to destr...

Bellwether
March 23, 2018 18 min read
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Sri Lanka's economic nationalism on tiles backfires on tea: Bellwether

Classical liberal economists have long argued that free trade leads to peace and economic nationalism and protectionism ...

Bellwether
February 9, 2018 7 min read

Sri Lanka's Central Bank should sell own securities in new credit cycle: Bellwether

Sri Lanka's credit is now slowing (compared to total deposits raised), allowing the central bank to easily purchase doll...

Bellwether
December 27, 2017 7 min read

Shocking parallels in abolishing slavery and protectionist exploitation in Sri Lanka: Bellwether

A story doing round in Colombo these days is that when Sri Lanka's captains of rent - sorry industry - were asked about ...

Bellwether
December 4, 2017 11 min read

Sri Lanka's new trade policy has deadly Mercantilist myths: Bellwether

Sri Lanka's new trade policy published in the ministry of development strategies and international trade says a lot of h...

Bellwether
November 21, 2017 12 min read

Tuk-tuk, school van regulation in Sri Lanka can create a bus-style fiasco - Bellwether

Sri Lanka’s rulers and bureaucrats are planning to poke their itchy interventionist fingers on taxis and school v...

Bellwether
September 25, 2017 16 min read

Sri Lanka may be heading for a triple anchor, 'inflation targeting' oxymoron: Bellwether

Under planned ‘flexible inflation targeting’, Sri Lanka is supposed to target an inflation index, intervene...

Bellwether
August 28, 2017 23 min read
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Latest Last
US Dollar 369.9103 369.9103
UK Pound 412.4602 400.9490
Euro 364.6306 360.0342
Aus Dollar 242.2604 241.7927
Yen 2.5686 2.5748
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.4529 4.4476
Korea Won 0.2535 0.2528
Oman Rial 942.5852 942.5852
Saudi Riyal 96.5609 96.3494
UAE Dirham 98.7994 98.7994
Source: Central Bank/Indicative
pts %
S&P SL20 3,165.33 -0.11%
CSE All Share 9,931.07 -0.21%
Turnover Rs million 2,578,258,401 3,017,534,901
Source: CSE
Latest Last
3-m bill 29.35 30.31
6-m bill 28.29 28.51
12-m bill 28.44 28.26
5-yr bond 25.26 25.30
8-yr bond 25.87 26.01
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

Protectionist taxes plunder the weak, destroying potential new jobs in Sri Lanka

Sri Lanka is planning an 'anti-dumping' law to protect businessmen from exercising their power in markets. Anti-dumping ...

Bellwether
July 14, 2017 10 min read

Sri Lanka's Weimar Republic factor is inviting dollar sovereign default: Bellwether

A grave new risk had emerged to Sri Lanka's monetary stability and sovereign credit with the Treasury pressuring the cen...

Bellwether
May 26, 2017 13 min read

Sri Lanka haunted by illiberal ghosts of Mahinda Chinthana amid drought

Sri Lanka is facing several headwinds, amid talk of an impending economic crisis, which is coming from excessive relianc...

April 4, 2017 13 min read

Sri Lanka’s milch cow of an improvident state: a nightmare central bank prophesy that came tr...

Economists and governance activists have been shocked over recent threats and actions by Sri Lanka’s current admi...

Bellwether
March 3, 2017 13 min read

Deadly interventions from Sri Lanka's Yahapalanomics vie with Trumponomics: Bellwether

Sri Lanka’s Yahapalanaya administration has tarnished the United National Party’s reputation for good econ...

Bellwether
February 6, 2017 11 min read

Lessons for Sri Lanka as Trump, Brexiters ride nationalist hate wave in the West: Bellwether

Nationalist hate is once again rising in the West, as shown by Brexit and Donald Trump amid an economic downturn while S...

Bellwether
December 14, 2016 9 min read

Sri Lanka should never again demonetize like India, giving reasons to trust the dollar: Bellwether

India's rulers suddenly demonetised 500 and 1000 rupee notes on November 08, making them valueless, supposedly to draw '...

Bellwether
November 9, 2016 5 min read

Sri Lanka's prerogative tax impunity checked in Magna Carta moment

When King John imposed yet another scutage, the main tax of the times that was the basis of a feudal serfdom, on the bar...

Bellwether
November 7, 2016 7 min read

Sri Lanka should beware of false claims over 'undervalued' East Asia currencies

Sri Lanka's new Central Bank Governor Indrajit Coomaraswamy has correctly identified the fundamental problem with the co...

Bellwether
September 1, 2016 13 min read

Will Sri Lanka's real budget deficit please stand up

Sri Lanka's budget deficit for 2015 is supposed to be Rs829.5 billion or 7.4 percent of gross domestic product. But ther...

Bellwether
August 11, 2016 3 min read
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