Author: Asantha Sirimanne

Hanoi, Mar 22, 2010 (LBO) – International support and policy advice on macro-economic management has helped Vietnam recover from a slowdown in 2009 and the country intended to use global links to cut poverty, officials said. Vietnam’s economy slumped in the fist part of 2009 but recovered later and the country was expected to record […]

Sept 28, 2009 (LBO) – Sri Lanka has met the key end-September quantitative targets under an International Monetary Fund program, Central Bank Governor Nivard Cabraal said.“We have met all the targets under the program,” Cabraal said. A key target is a ceiling on reserve money or the narrowest supply of money made up of circulating […]

Aug 28, 2009 (LBO) – Sweeping ‘nationalization’ of collapsing banks, state mandated mortgage lending and centrally planned interest rates has made the USA a socialist state, Sri Lankan viewers of a film on the US economic collapse said.Paulson, the multitude of bankers and financial journalists repeatedly said in the film, had made ‘mistakes,’ in being […]

Aug 22, 2009 (LBO) – Sri Lanka’s Central Bank has acquired 875 million US dollars from a large US fund in an offbeat deal effectively by-passing the domestic money system that boosts forex reserves without creating domestic inflationary or exchange rate pressure.But the by-pass also meant that the money is not available for Sri Lanka’s […]

July 22, 2009 (LBO) – An International Monetary Fund loan will beef up Sri Lanka’s external solvency but it will raise investor confidence further once details spelling out an economic plan agreed with the lender are published, analysts said.In 2004 a growth oriented IMF backed structural adjustment program was abandoned half way and budget deficits, […]

July 21, 2009 (LBO) – Sri Lanka will have more options to tap foreign investors after it gets a 2.5 billion US dollar standby loan from the International Monetary Fund, Central Bank governor Nivard Cabraal said. Cabraal said he will also be in London later this week to “update investors.” “Once we get a feeling […]

July 21, 2009 (LBO) – Sri Lanka is planning a budget deficit of 7.0 percent of its economy under a plan agreed with the International Monetary Fund, which will help improve the country’s rating and open the way for foreign financing, a top official said. A 7.0 percent target is tight for Sri Lanka and […]

April 18, 2009 (LBO) – Sri Lanka’s inflation will dip below zero briefly by the middle of 2009, the island’s central bank governor Nivard Cabraal said as the world is gripped by a classic deflationary collapse. During the great depression, when the dollar strengthened and people pulled money out of banks to bury in their […]

Feb 20, 2009 (LBO) – Falling inflation is giving Sri Lanka more room to loosen monetary policy, Central Bank Governor Nivard Cabraal said Friday, though the island is grappling with a balance of payments problem. Sri Lanka’s 12-month inflation would fall to around 8.0 percent in February from 10.7 percent in January and year-end inflation […]

Sept 26, 2008 (LBO) – Protests erupted against authorities in a sleepy Sri Lankan fishing village which can almost lay claim to be the Ponzi capital of the world, after a financier in the area was blacklisted as running an illegal business, police and residents said. The Central Bank of Sri Lanka named Piyadasa Ratnayake, […]