WrongLK

Alas a little too much a little too late

The Prince of Kandy The following article was also published on the Daily FT on Wednesday 21 April 2021 and at http://www.ft.lk/opinion/Alas-a-little-too-much-a-little-too-late/14-71654 The recent media focus and political activity on the Port City though incredible in terms of magnitude are far too late and sensational to have any impact on policy. What will come into ... Read More

Is Port City not important?

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The Prince of Kandy The following was also published on the Daily FT on Monday 12 April and at http://www.ft.lk/columns/Is-Port-City-not-important/4-716223 To reform the proposed legislation instead of expressing an opinion on the proposed Port City framework it would be more effective to comment on the lack of media coverage on the issue. Even media content ... Read More

Why can’t we be like this forever CSE?

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The Prince of Kandy Thanks to COVID-19 a lot of things that should have happened in Sri Lanka a long time ago have happened. The Amended Electronic Transactions Act was recognised[i], and a lot of things went into the digital space. The stock exchange has also revamped their website and through guidance has made it ... Read More

Deficits and Implied Taxation

UncategorizedCentral Bank of Sri Lanka, Inland Revenue, TaxesLeave a Comment

The Prince of Kandy I am not saying it is a life and death matter when you print money. During my period it isn’t that we didn’t have excess printing but every time the treasury secretary asked me if we could accommodate the government with an excess of treasury bills I always got a date ... Read More

Getting Out of Taxable and Central Bank Backed Assets

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Given your political hue, you may argue that through the debt to equity swap Sri Lanka effectively got China to build a port in Hambantota giving Sri Lanka over 50 percent of the equity in return for land or that Sri Lanka just gave up the potential to reap the entire profit of the bunkering ... Read More

Moving Out of Money

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We aren’t getting an inflation targeting mechanism in the near future. To paraphrase the words of the outgoing Central Bank Governor, it is unlikely that given the political situation such a ground-breaking piece of legislation will be passed in parliament. An inflation targeting regime was to be combined with an independent central bank. The Central ... Read More

The 20th Amendment

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Pass the 20th amendment to the constitution and go for a parliamentary election. This would be the best thing for Sri Lanka at the moment. Going for a parliamentary election in a few months’ time wherein even if the UNP wins they will have to deal with an SLPP president is not an ideal situation. ... Read More

Power Grab

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This is based given the timing and implicit manifesto of the Presidential bid orchestrated by Mangala Samaraweera. As perceived by many in internal party member dialogues this has been characterized as a bid for the Prime Minister’s Post by Mangala. His supporters frame it as the last chance to beat Gotabhaya Rajapaksa’s bid. This is ... Read More

The Capital Market Cure

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The Monetary Board in conjunction with the Central Bank is busy creating a policy to create systems whereby there is better transmission of monetary policy. The situation has become quite dire as the Central Bank seems to have lost control over interest rates. This is most evident in the Central Bank imposing regulation limiting the ... Read More

The Politicisation of Inflation

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Sri Lanka’s is currently in the process of amending its monetary policy. We are moving towards an inflation targeting central bank. The proposed new law is at the stage where the dinosaurs in parliament oppose it on grounds of tradition[1]. Quoting from the referenced link; The requirement that a particular policy be adapted by the ... Read More