Tag: lbo
Sri Lanka large bank note shows recent inflation: economist
Feb 07, 2011 (LBO) – A large denomination banknote issued by Sri Lanka’s monetary authority is a testament to the recent high inflation created in the country, an economist and opposition lawmaker has said. Sri Lanka’s central bank issued a 5,000 rupee note, more than twice the value of 2,000 rupee, note also issued after […]
Oil Spike
SINGAPORE, February 7, 2011 (AFP) – Brent crude prices surged above 100 dollars in Asia on Monday as major regional equities clocked strong performances in their first trading day since the start of the Chinese New Year, analysts said. “Oil was also boosted by US economic figures on Friday that showed jobless rates plunging to […]
Sri Lanka opposition warns of Arab-style uprising
February 5, 2011 (AFP) – Sri Lanka’s main opposition on Saturday warned of an uprising, a day after ruling party activists unleashed violent attacks against demonstrators seeking the release of a jailed opposition leader. The United National Party (UNP) said repeated violence against the opposition, arson attacks on anti-government news organisations and arrests of student […]
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SINGAPORE, February 6, 2011 (AFP) – Asia must prepare for millions of people to flee their homes to safer havens within countries and across borders as weather patterns become more extreme, the Asian Development Bank warns. A draft of an ADB report obtained by AFP over the weekend and confirmed by bank officials cautioned that […]
Sri Lanka floods kill 13
February 5, 2011 (AFP) – Renewed rains in Sri Lanka have flooded a large number of towns and villages and killed at least 13 people, officials said Saturday. The new flooding came after the United Nations issued an appeal for 51 million dollars in emergency aid to help up to a million people affected by […]
Sri Lanka to grow fast if policy intentions carried out: IMF
Feb 05, 2011 (LBO) – Sri Lanka has good prospects of sustaining economic growth between 7. 0 to 8.0 percent a year if the declared economic plan is implemented, an International Monetary Fund official said. The state has now unveiled a plan to stop living beyond its means by cutting deficits, which can keep interest […]
Sri Lanka flexible exchange rate can cut carry trade risk: IMF
Feb 04, 2011 (LBO) – A flexible exchange rate that moves in both directions can ward off speculative capital flows by signaling the risk of capital losses, while also improving competitiveness, an International Monetary Fund official said. Policy rates in Sri Lanka are now on a 7.0 to 8.5 percent band compared to almost zero […]
Sri Lanka president promises growth
KATARAGAMA, February 4, 2011 (AFP) – Sri Lanka’s President Mahinda Rajapakse promised Friday to promote economic development at all costs to make up for opportunities lost during the country’s separatist war. In an address on the country’s 63rd anniversary of independence from Britain, Rajapakse said he would press ahead with infrastructure projects and double per […]
Sri Lanka gets more cash, path open for reforms: IMF
Feb 03, 2011 (LBO) – Sri Lanka has got 216. 6 million US dollars from the International Monetary Fund despite missing one key target and lack of data for another, with the lender banking on better budgeting and inflation control. The dollar reserves are more than enough to convert the entire rupee monetary base which […]
Sri Lanka forex reserve target missed due to Iran repayment
Feb 03, 2011 (LBO) – Sri Lanka missed a foreign reserve target set in a deal with the International Monetary Fund due to an early repayment of a loan to Iran, IMF resident representative Koshy Mathai said. The government itself has no capacity to generate foreign exchange, except by borrowing and indebting future generations. Exports […]
” Sri Lanka
WASHINGTON, February 2, 2011 (AFP) – US Secretary of State Hillary Clinton voiced hope for a “just and democratic” Sri Lanka as she offered congratulations ahead of the war-torn island’s Independence Day on Friday. Clinton said in a statement Wednesday that the United States and Sri Lanka have historically enjoyed “a strong relationship based on […]
Sri Lanka media attack threatens freedom: US
Feb 02, 2011 (LBO) – The United States said it was “deeply concerned” about the most recent attack on the media in Sri Lanka and said such violence silences voices, undermines freedom of expression and further undermines democracy. A total of 17 journalists and media employees have been killed in Sri Lanka in the past […]