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Sri Lanka's recurring monetary instability is due to lack of industrialization and not money printing or budget deficits, Howard Nicholas, an economist said.
Sri Lanka's recurring monetary instability is due to lack of industrialization and not money printing or budget deficits, Howard Nicholas, an economist said.
Sri Lanka central bank’s last month policy rate hike has not met its real objective of making export credit expensive and allocating more funds to green energy initiatives, President Secretary P B Jayasundera said.
Sri Lanka's severe monetary instability, the obsession with controlling imports, the trade and current account deficit is a graphic example of how Keynesian or Mercantilist ideology, which is not based on logic, reason or economics, can devastate a country at peace.
Monday July 19, 2021 8:13 am Monday July 19, 2021 8:13 am ECONOMYNEXT – Sri Lanka’s central bank has sold down 5.6 billion rupees from its Treasury bill portfolio potentially saving 27.6 million US dollars at a peg (convertibility undertaking) of 203 to the US dollar, official data shows. On July 16, 2021, the central bank sold down its Treasury bill stock to 911.44 billion rupees from 917.05 billion a week earlier following a successful Treasury bill auction. The central bank offered 56 billion rupees in bills at last week’s bill auction and sold all of it, though most came from the ...