Sri Lanka Is a Small Preview of a Global Default Crisis – By Ruth Pollard The country is already wracked with shortages. The social order may shatter if the economy isn’t infused with cash soon.   Source:bloomberg.com High school teacher S. Jeeva has spent two days in the baking sun lining up for cooking gas in the north of Sri Lanka’s capital. He’s been standing with thousands of others waiting for a delivery that, so far, hasn’t come. Meanwhile, many of his students, who will sit for important national exams Monday, have joined protests against the government at the waterfront along Colombo’s iconic Galle Face Green. Both are symbols of the economic and political crisis gripping the nation — the result of decades of corruption and financial mismanagement that pushed the country to default on May 19. It is, Jeeva says, his students’ democratic right to protest and demand a better government. Daily life has become ...

Read More →

WHERE IS THE ROADMAP TO RESTORE SRILANKA’S GLORY? – by N.S.Venkataraman Most people in the world , whether Sri Lankans or otherwise , are concerned  about the present plight of Sri Lanka  due to what appears to be a  sort of economic collapse and consequent unrest amongst the people. Several experts and observers have commented liberally as to how this   country with beautiful  landscape and glorious  culture  have been reduced to this state.  The diagnosis is complete.  But , it appears that the process of evolving prescription to overcome the crisis is yet to be convincingly evolved and crystallized. At present, the focus is on getting loan or aid from abroad ,as if this by itself could sort out the grim issues facing Sri Lanka  in short term or long term. Sri Lanka already has huge debt to service and repay and Sri Lankan government has said that it cannot ...

Read More →

TRANSFORMING NORTHERN PROVINCE INTO MULTI BILLION ECONOMY – by Dr. Gnana Sankaralingam At present, northern province is the most economically backward region, resulting from economic embargo for 25 years and war related destruction, coupled with post conflict neglect by governments. Unfortunately, there are no Tamil politician with initiative, knowledge or capability to get the region out of this situation into a zone of plenty and uplift the people to a life of prosperity. Growth index is calculated as a sum of consumer spending, state spending, investments and trade. All these aspects will be considered to transform the economy. With an intelligent, industrious and frugal population, it will not be hard to achieve this dream if proper guidance is given Development projects can be classified according to necessity, as immediate, short term or long term or according to magnitude, as minor, intermediate or mega. Immediate needs of people of northern province ...

Read More →