Page 3 - John Exter News Today

Sri Lanka has defaulted on its debts for the first time in its history. It has faced an economic and political crisis triggered by global shock waves from the pandemic and the war in Ukraine. Inflation has hit 40% and the shortages of food, fuel, and medicines combined with the rolling power blackouts, have led

By Andy Mukherjee Bloomberg Opinion – What was good for Sri Lanka under British colonial rule 75 years ago may be worth a try again. Or at least that’s what Mark Mobius, the former emerging markets guru at Franklin Templeton Investments, seems to be suggesting. To regain the confidence of investors, the bankrupt Indian Ocean...

A currency board may be a better fit for the country as it navigates a perilous financial future

Sri Lanka is seeking investors to pump up to two billion US dollars in investments into the central bank, Finance Minister Ali Sabry said as the country grapples with the worst soft-peg crisis in its history with the monetary authority in net dollar debt.

Changyong Rhee, Director of the International Monetary Funds Asia and Pacific Department, who visited Sri Lanka recently, will retire following his monimation as the Governor of South Koreas central bank.

Sri Lankas Samagi Jana Balawegaya stands for reform of the central bank to ensure accountability and transparency as well as ensuring its independence, its leader Sajith Premadasa said as the country is hit by one of the worst currency crises it is history after a bout of money printing.

Sri Lankas main opposition Samagi Jana Balawegaya stands for reform of the central bank to ensure accountability and transparency as well as ensuring its independence, its leader Sajith Premadasa said as the country is hit by one of the worst currency crises it is history after a bout of money printing.

Sri Lankas main opposition Samagi Jana Balawegaya stands for reform of the central bank to ensure accountability and transparency as well as ensuring its independence, its leader Sajith Premadasa said as the country is hit by one of the worst currency crises it is history after a bout of money printing.

Sri Lanka should not use foreign reserves for imports, because under a 6.5 percent policy rate an equal amount of money will be printed, which will prevent a contraction in credit and reserve money, encourage imports, perpetuate forex shortages and bring the country closer to default.

Sri Lankas gross overnight liquidity injections topped 400 billion rupees by mid December as money was printed to offset dollar sales by the central bank (sterilized interventions) and sell downs of a Treasuries stock held outright.