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By Dr. Arujuna Sivananthan – Sri Lanka’s Central Bank (CB) is now engaged in a rearguard action to stop the rupee from overshooting on the downside. Its first attempt was to use ‘moral suasion’ to establish a trading range. Dealers have reported it intervening several times by selling dollars to prevent sharp moves lower. Now, it has … Continue reading
By Dr. Arujuna Sivananthan – Income Inequality: With recent hikes in the price of distillates and resultant protests, a pertinent question to ask is who is affected most by them. Athula Naranpanawa and Jayathileka S Bandara of the University of Griffith in Australia, in a recently published discussion paper, suggest that low income households followed by low income rural … Continue reading
By Dr. Arujuna Sivananthan – On the 30th of January, Sri Lanka’s Central Bank announced that it would not draw down the withheld 800 million US dollars (USD) of its International Monetary Fund (IMF) standby facility citing its high interest rate. In a world starved of capital, disbursing the withheld tranches would have posed a … Continue reading
Colombo Telegraph 