If Sri Lanka continues to rely on borrowing to address the imbalance between imports and exports, the nation will inevitably confront another economic crisis within a decade, says President Ranil Wickremesinghe. He made these remarks during the inauguration ceremony of Bodhigara and Golden Fence, constructed near the historic Mangedara Tempita Viharaya in Kegalle on March 20. In the same week, the International Monetary Fund (IMF), on the advice
This article explores the intricate relationship between political and government corruption and its detrimental impact on a country’s economic health. It delves into the complexities of fiscal deficit, parallel economy, and underground economy, collectively contributing to economic failure. By shedding light on how corruption infiltrates various sectors, affecting everything from external debt interest to the common man’s basic needs, it also e
Is the situation in Sri Lanka so grim that locals harbour hope that they could lead a better life in a country that is affected by war? Two suspects operating a foreign employment agency in Kadawatha were arrested this month on charges of trafficking a group of 55 Sri Lankans to conflict zones in Ukraine. The group, comprising former soldiers as well as civilians, had been lured by the promise of jobs in Georgia, Poland and Ukraine. Out of the 5
In the first article published last week (“Col” Karuna’s Eastern Tiger revolt against LTTE 20 years ago) the background and reasons for the Eastern Tiger revolt were discussed in detail. In this second article, the course of events leading to the eruption of the intra-tiger fratricidal conflict in the aftermath of “Col”Karuna’s rebellion will be recounted, relying on some of my earlier writings. All hell was expected to break loose after “Col”K
It’s growing hotter by the day. Last Saturday the temperature in Colombo rose to around 89 degrees Fahrenheit. Forecasters have predicted that there will be no let-up in the spell of hot weather. Rather they are warning that temperatures will rise further by April when the sun will be directly over Lanka. Doctors also warn the public to avoid strenuous labour, to wear white clothing that absorbs solar energy and drink more water. A difficulty her
One of the three watchdog committees of Sri Lanka’s Parliament, the Committee On Public Enterprises (COPE), has been hit by a wave of resignations since Monday (18), following the appointment of Rohitha Abeygunawardena as its chairman. By yesterday noon, 11 members – almost all from the Opposition and dissidents of the ruling Sri Lanka Podujana Peramuna (SLPP) – had tendered their resignation. Eran Wickramaratne, S.M.Marikkar and Hesha Withan
While President Ranil Wickremesinghe and the Sri Lanka Podujana Peramuna government are focusing on elections amidst controversy and confusion over whether the General Election will be held before the Presidential Election or the Executive Presidential system should be scrapped as the then-Presidential candidate Chandrika Bandaranaike Kumaratunga promised to do so but never did, the government and the people need to focus more on vital issues suc
Two appointments for top state positions have been challenged; one in a court of law and the other in Parliament. One is the appointment of Deshabandu Tennakoon as Inspector General of Police (IGP), which is challenged in Supreme Court by the Anti-corruption Unit of the Samagi Jana Balawegaya. The other is the appointment of politician Rohitha Abegunawardhana as the Committee On Public Enterprises (COPE) Chairman against which Parliamentarian Lak
QPresident Ranil Wickremesinghe appeared to have declined to entertain your request for a snap General Election. Won’t this lead to a rift between your Sri Lanka Podujana Peramuna (SLPP) and the President? I am yet to present this idea to the President formally. When I meet him today, I will do it. I have mooted this idea now. Otherwise everybody is of the opinion that the Presidential Election should be conducted first. However, we won’t leave
Bill Clinton wrote a book titled, “Back to Work: Why We Need Smart Government for a Strong Economy” presenting page after page of intelligent suggestions on how the US can reduce its crippling debt, create new jobs, and reinvigorate its position in the global economy, emphasizing a return to forward-thinking initiatives. Barack Obama’s book, ‘A Promised Land,’ manages to avoid being ponderous, as might be expected, and is always pleasurable to re
Former President Gotabaya Rajapaksa’s book ‘The Conspiracy to oust me from Presidency” which was launched recently did not evoke much interest or create any stir among the people as its name suggests to do. Nor did it reveal any hidden facts or details about any incident that would have contributed to his ouster. However, the book is said to have been sold like hot cake due to the curiosity about what it could have contained. Hence, unlike the c
On the 31th of this month Catholics and Christians of all denomination will celebrate Easter Sunday. The festival without a doubt brings to mind the Easter Sunday bombing of 2019. On Easter of 2019, terrorists exploded their deadly caches of explosives in three churches where Christians were celebrating what to the community was the most sacred of Christian festivals. Separately on the same day, in three five star hotels members of the same terr
The Liberation Tigers of Tamil Eelam(LTTE) organization fought the armed forces of Sri Lanka for 33 years in pursuance of its political goal of establishing a separate state called Tamil Eelam in the Northern and Eastern provinces of the Island. The LTTE known generally as the Tigers had the reputation of monolithic unity. This image was seriously dented in 1993 when the LTTE’s former Deputy Leader Gopalswamy Mahendrarajah alias “Mahathaya” was
Are the people of Sri Lanka happy? Most independent and non-party analysts would say a clear no. Millions of people are suffering from a lack of food, shelter, clothing, healthcare needs, education and other facilities. So it is clear that except for the politicians– most of whom make money illegally– and big business magnets, most of Sri Lanka’s people are unhappy. Next week, the United Nations will mark the International Day of Happiness. In a
Part I of this article, which was published on February 29, laid out the grim fiscal and debt sustainability outlook for Sri Lanka. The key driver of debt dynamics is the gap between real GDP growth and real interest rates on government debt. Sustained annual growth of 5-6% and low real interest rates through disciplined fiscal policy would significantly improve debt sustainability. With slowing labour force growth due to an ageing population,
EU Ambassador meets new BOI Chief to discuss economic ties
SLCERT warns WhatsApp users against sharing OTPs to prevent hacking
IMF review for Sri Lanka delayed
Canada issues travel advisory over serious risk in Arugam Bay
More countries issue travel advisories
Confusion reigns over potential attack in Arugam Bay: Ruwan
Free media doesn’t mean freedom of the wild ass: Vijitha Herath
Ranil ready to take charge of country at any given time: Wajira
NPP never made allegations of hidden money in Uganda: Tilvin