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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 Fund's Asia and Pacific Department, who visited Sri Lanka recently, will retire following his monimation as the Governor of South Korea's central bank.