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The British planted the Seeds of Lanka’s Bankruptcy in 1942-by Michael Roberts Source:Thuppahis I keep watching Karan Thapar’s interview with Dr. Indrajit Coomaraswamy: viz. https://www.youtube.com/watch?v=hLLMdx74-aw. It’s fascinating. Karan Thapar is a skilled, hard-nosed interviewer and Indrajit Coomaraswamy is a knowledgeable and articulate interviewee. So what you get is two clear thinkers who cut to the nub of the issue. It’s a trenchant analysis of how Sri Lanka got into this hole and how it can get out of it. That said, I have a quibble with something Dr. Coomaraswamy asserted about Sri Lanka’s budget-busting culture of unaffordable entitlements. He believes that Sri Lankans got habituated to receiving government handouts from the time of Independence in 1948. ...

Jul 30, 2022 Posted by In Articles, Michael Roberts Tagged ,
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DR. INDRAJIT COOMARASWAMY SAYS SL ECONOMIC RECOVERY REQUIRES PAINFUL TREATMENT Source:Lankanewsweb Highly respected eminent economist and former Central Bank Governor Dr. Indrajit Coomaraswamy has said the economic recovery will require painful treatment whilst expressing hopes that President Ranil Wickremesinghe would take all the tough decisions to avoid the disastrous situation. “President Wickremesinghe is economically very literate. He knows what has to be done. At times, it has been difficult for him or any other politician to get it done, given the political dynamics and that toxic populist politics and entitlement culture that has driven the economy to where it is today. But, if President Wickremesinghe understands this reality , he can get it done and tackle the economic crisis ,” Dr. Coomaraswamy said in an interview with The Wire on Saturday. ...

Jul 27, 2022 Posted by In Articles Tagged ,
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What’s next for the Sri Lankan Economy?-by Kalani Kumarasinghe Source:Dailymirror Monday’s briefing by Prime Minister Ranil Wickremesinghe was a rude awakening for many across the country. Although several parliamentarians, economists and industry stakeholders had long warned that the Sri Lankan economy would eventually come to a standstill unless interventions are made, much of these calls went unheard. Over the Vesak weekend, usually marked with dansal, colourful lanterns and illuminated pandols, people were seen queuing for petrol and kerosene. Unlike other years, only a few events to distribute food were organized by community groups despite skyrocketing prices of food. Sri Lankans it seemed are slowly adjusting to their new normal of extended power cuts and long queues. Prime Minister Ranil Wickremesinghe meanwhile exposed many realities and inconvenient truths on the state of the Sri Lankan economy. According to his speech, the Government incurs massive losses, as does the Ceylon Electricity Board. ...

May 19, 2022 Posted by In Articles Tagged , ,
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