Tag: Sri Lanka
Sri Lanka inflation battle threatened by cash injections
Oct 04, 2008 (LBO) – Sri Lanka’s central bank said inflation would come down to below 20 percent by year end, but its monetary program is now threatened by liquidity injections in the midst of a sudden foreign reserve outflow. “Point-to-point inflation would come down to below 20 percent,” central bank governor Nivard Cabraal told […]
” state policies
OTTAWA, October 3, 2008 (AFP) – Canada’s Prime Minister Stephen Harper on Thursday blamed current US financial woes and its worldwide fallout on “irresponsible” policies. “The economic and financial mess in the US is disastrous and the policies have been irresponsible,” Harper said during a televised political debate ahead of an October 14 vote. His […]
” say crisis warnings unheeded
WASHINGTON, October 3, 2008 (AFP) – The so-called “doomsday” economists long derided by the mainstream say the current financial maelstrom was inevitable, but debate is still raging on how the US economy will emerge from the crisis. The analysts who had sounded warnings about economic imbalances for at least the past two years argue that […]
Sri Lanka fiscal management critical for managing inflation: think tank
Oct 03, 2008 (LBO) – Sri Lanka’s government spending policies, and foreign borrowings are key to keeping inflation down though tight monetary policy can bring short term results, a think tank has said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “Whilst a sharp drop in credit […]
Sri Lanka central bank says money targets achieved amid reserve outflow
Oct 01, 2008 (LBO) – Sri Lanka’s central bank said it had achieved reserve money targets set for the September quarter amid a reserve outflow that has made it increase domestically injected liquidity to maintain reserve money. Such actions, characteristic of maintaining a pegged exchange rate, known as ‘sterilized intervention’ can easily stampede a country […]
Sri Lanka rupee breaks peg as monetary authority steps back
Sept 30, 2008 (LBO) – Sri Lanka’s rupee broke its peg at 107.90 and spiked to 108.35 rupees against the green back on Tuesday after the monetary authority ended a week of heavy intervention that saw more than 100 million dollars flow out of the country. Sri Lanka’s central bank has intervened heavily in currency […]
Sri Lanka 12-month inflation falls in September
Sept 30, 2008 (LBO) – Consumer prices in Sri Lanka’s capital Colombo increased by 24.3 percent in the 12-months to September 2008, down from 24.9 percent in August, the government’s statistics office said. The census department said food prices fell by 0.2 percent while fuel, household maintenance, transport and recreation showed an increased. The central […]
‘s residence
Sept 29, 2008 (LBO) – The United States has condemned an attack on the residence of anti-corruption activist and human rights lawyer J C Weliamuna, calling on authorities to launch an immediate investigation.Weliamuna is also the executive director of the Sri Lanka branch of Transparency International, an anti-corruption watchdog body. A grenade was thrown into […]
‘s residence draws EU condemnation
Sept 29, 2008 (LBO) – The European Union has condemned a grenade attack on the home of a Sri Lankan lawyer and human rights and anti-corruption activist and urged the government to bring the perpetrators to justice. The attack was the latest in a series of attacks and threats against civil society groups, human rights […]
‘ residence draws EU condemnation
Sept 29, 2008 (LBO) – The European Union has condemned a grenade attack on the home of a Sri Lankan lawyer and human rights and anti-corruption activist and urged the government to bring the perpetrators to justice. “The EU notes with concern the trend in attacks and threats on journalists, civil society organizations and now […]
Lube Trends
Sept 28, 2008 (LBO) – The Sri Lanka unit of Indian Oil Corporation has temporarily cut prices on its lubricants, aiming to capture a bigger share of the market in which competition is growing. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Lanka Indian Oil Corp is […]
UN says will restart Sri Lanka food aid
COLOMBO, September 28, 2008 (AFP) – The United Nations said on Sunday it would send food to those displaced by fighting in Sri Lanka’s rebel-held north, two weeks after aid workers were ordered out of the region. Sri Lankan forces are moving to dismantle the northern stronghold of the rebels, formally known as the Liberation […]