Electricity Board Archives

Part 5: Errors of Judgement, IMF, and Potential Solutions to Avoid Bankruptcy -A candid study and an action plan Economic and social development for Sri Lanka – By Professor Sunil J. Wimalawansa Consequences of IMF loans: Under IMF-imposed policies, Sri Lanka has witnessed the dramatic deterioration of many local industries. Sri Lanka had sold off its profitable public sector enterprises such as the Tire Corporation, Sugar Corporation, Milk-food Corporation, Air Lanka (which used to be Sri Lanka’s national airline), Ceylon Transport Board, and textile factories at Tulhiriya and Veyangoda. Due to multiple reasons, the partnership of Air Lanka, Sri Lanka’s national airline with Emirates, miserably failed. It did not economically affect Emirates, but Sri Lankan airline went down the drain—our assets. It has been reported that these state-owned enterprises were sold to the local and foreign private sectors for a fraction of their value based on commissions earned. Subsequently, in ...

SRI LANKA NEWS (FEBRUARY 2022) Compiled by Victor Melder. Headline inflation increased to 14.2 per cent in January 2022 from 12.1 per cent in December 2021, says the Central Bank of Sri Lanka It is measured by the year-on-year change in the Colombo Consumer Price Index (CCPI, 2013=100), On an annual average basis, the CCPI increased to 6.9 per cent in January 2022 from 6.0 per cent in December 2021. Inflation was driven by monthly increases of prices of items in both food and non-food categories. Subsequently, food inflation increased to 25.0 per cent in January 2022 from 22.1 per cent in December 2021. Non-food inflation increased to 9.2 per cent in January 2022 from 7.5 per cent in December 2021, the CBSL adds. (Ceylon Today, 1.2.2022) Tourism Minister Prasanna Ranatunga today said that 82,327 tourists have arrived in the country in the first month of this year. “Between 2000 ...