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Excerpted from te authorized biography of Thilo Hoffmann by Douglas B. Ranasinghe (Continued from last week) Thilo continues: “The Ven. Bhikkhu Sumedha, a long-time friend who had grown up in Switzerland, spent his early hermit years as a Buddhist monk at Situlpauwa and at the top of Vedahitikanda. He later obtained higher ordination, and died […]
By Rohana R. Wasala (Part one of this article appeared yesterday) At independence, the British colonialists left a country that was able to flaunt relatively high economic indices due to volatile external factors associated with the end of World War II in 1945 (such as the increase in the price of rubber exports from Ceylon). […]
By GARVIN KARUNARATNE Ph.D. The editorial of The Island on Sri Lanka’s Independence Day says it all: “The challenge before us is to retrace our steps, figure out where we took wrong turns, and forge ahead in the right direction, as many other nations have already done. Easier said than done, but there seems to […]
Shenali D Waduge Both the World Bank and the IMF were founded in 1944 at the Bretton Woods conference. The World Bank is tasked to aid developing nations in reducing poverty and increasing their well-being. The IMF’s main purpose is to stabilize the international monetary system and oversee the world’s currencies. The World Bank offers financing, policy advice, and technical assistance to governments, and also focuses on strengthening the private sector in developing countries. The IMF keeps track of the economy globally and in member countries, lends to countries with balance of payment ...