Columnists

The Monetary Board’s wake up from slumber while hunting a whistle-blower

Views - 5763 Monday, 17 October 2016 00:02

  In two press releases issued last week just four days apart, the Monetary Board of the Central Bank has shown that it is now ready to stand up to its responsibility by the nation.  Silencing a whistle-blower The first press


Whistle-blowing on Perpetual Treasuries: Embarrassing but vindication of CB’s supervisory staff

Views - 9712 Monday, 10 October 2016 00:01

  A whistle-blower in the Central Bank The market last week was livid with a leaked on-site examination report, claimed to have been prepared by Central Bank’s primary dealer supervision staff, on the controversial primar


A Governor transforming adversity to prosperity

Views - 5046 Monday, 3 October 2016 00:10

Governor A.S. Jayawardena with President Chandrika Kumaratunga   The devastating attack on the Central Bank AS became the Governor of the Central Bank in December 1995, a kind of a ‘coming-back-home&rsquo


Techno City is the first step in the right direction but there is much more to be done to attain the

Views - 5931 Monday, 26 September 2016 00:02

Premier Ranil Wickremesinghe signs on the digital drawing of the Techno City during its launch yesterday while Megapolis and Western Development Minister Champika Ranawaka and Science, Technology and Research Minister Susil Premajayantha


Sri Lanka’s bloodless revolution on 8 January: Malith Jayathilake has now spoken out

Views - 8393 Monday, 19 September 2016 00:02

Malith Jayathilake presenting the book to President Maithripala Sirisena  Architects of 8 January revolution are speaking out Those who were behind the scene leading to the bloodless revolution of 8 January have started to


Fear of ETCA: Is it Davids fearing to fight Goliaths?

Views - 10140 Tuesday, 13 September 2016 00:05

Small fellows can beat big fellows through proper brain power Malcolm Gladwell’s 2013 book ‘David and Goliath: Underdogs, Misfits and the Art of Battling Giants’ is about how small fellows should fight with big fe


The falling education and healthcare expenditure ratios should worry the Yahapalana Government

Views - 6675 Monday, 5 September 2016 00:01

The promise to increase the expenditure on education and healthcare services University academics had agitated from around 2012, coupling with their demand for a hike in salaries and other perks, for an increase in government expenditure on edu


Economics of A.S Jayawardena Part III: AS’s short spell as Central Bank’s Economic Research Director

Views - 6409 Monday, 29 August 2016 00:10

The summary of the episodes so far The first part of this series looked at how AS, a radical socialist economist in his young days, was converted to a free market economic thinker. The second part dealt with how he took forward the mission of th


Be warned! Monetary Board is losing its powers as well as its independence

Views - 6977 Monday, 22 August 2016 00:02

   Two ominous measures by the Ministry of Finance Two disturbing news items that appeared in the press last week portended that the Monetary Board of the Central Bank was fast losing its powers as well as its independence. Bot


Economics of A.S. Jayawardena Part II: Our man in the Bank of Ceylon

Views - 6269 Monday, 15 August 2016 00:01

   A.S. Jayawardena   The story so far In Part I of this series we looked at how AS was transformed from a radical socialist economist to a free market economic thinker. It was noted that both the London Sc


Economics of A.S. Jayawardena 1: The birth of an extraordinary economist

Views - 6329 Monday, 8 August 2016 00:00

   Many Faceted ASJ Amarananda Somasiri Jayawardena, fondly addressed as AS by his friends, celebrated his 80th birthday last week. His friends, followers and disciples got an opportunity to pay tribute to this legendary man at


Good sign that the Monetary Board has finally risen to discharge its obligation to the nation

Views - 6959 Monday, 1 August 2016 00:01

   The Monetary Board decides to tighten monetary policy The Monetary Board in its latest monetary policy review done last week has decided to make money more expensive to people. People here include all within Sri Lanka &


Students’ troubles in universities: A question of misconceived cultural property rights?

Views - 7317 Monday, 25 July 2016 00:01

   Being the hotbed of trouble in the correct direction is a must Sri Lanka’s state-owned universities have always been hotbeds of trouble. Troubles are good for universities if they are in the right direction. U


Prema-chandra Athukorala Chinthana: Joining production sharing chain is the way out for Sri Lanka

Views - 6852 Monday, 18 July 2016 00:00

  Sharing production with the rest of the world The Sri Lankan-born economist of international repute and Australian National University Don, Prema-chandra Athukorala, offered a new economic policy strategy for Sri Lanka recently. He d


Direct sale of government securities: Demon or servant?

Views - 6384 Monday, 11 July 2016 00:00

  The demonised direct sales of Treasury bonds The Central Bank has been telling the public again and again since March 2015 that the sale of government securities directly to primary dealers is faulty. According to the Bank, the syste


The dream of a train enthusiast: Ride a Viceroy Special to the moon

Views - 5863 Monday, 4 July 2016 00:10

  A railway enthusiast to a fault Hemasiri Fernando is known in Sri Lanka and abroad as a sports administrator, bureaucrat, banker and entrepreneur. He is little known as a train enthusiast, though it was his hobby from his early child


Brexit: Are the UK Universities and the research sector the biggest casualty?

Views - 5011 Monday, 27 June 2016 00:10

Ryan Randall plays the bagpipes outside a polling station in Edinburgh, Scotland, in this Reuters picture. Brexit was fought on emotional grounds rather than on hard core economics or political realities    Brit


Cherry Blossoms – When an economist becomes a creative writer: That is the wonder of Sriyani Hulugal

Views - 5526 Monday, 20 June 2016 00:10

   The cover of Sriyani Hulugalle’s collection of short stories and poems ‘Cherry Blossoms’   An economist becoming a creative writer Economists are known for being heartless because


Bond fiasco and confronting the Auditor General: Monetary Board should be more mindful of its obliga

Views - 5791 Monday, 13 June 2016 00:00

   COPE directing the Central Bank to cooperate with AG A recent news item has reported that the parliamentary watchdog, the Committee on Public Enterprises or COPE had summoned the Central Bank Governor and his deputies on a c


Monetary Board’s latest statement on ‘bond fiascos’: A step backward and waking-up from a demonic dr

Views - 6770 Monday, 6 June 2016 00:20

 Implicit admission of guilt The Monetary Board of the Central Bank has at last chosen to break its stoic silence over allegations against two main Treasury bond fiascos supposed to have taken place in the Treasury bill and bond market in S


Handagama’s latest indictment: Fantasising educated middle class should wake up from their dreams

Views - 7398 Monday, 30 May 2016 00:10

   A film director famous for indicting others Asoka Handagama, an award-winning film director of international repute, has been known for using his medium to serve contemporary society with indictments. His first movie, &lsquo


Coming out of the economic crisis: Time is running out for Sri Lanka

Views - 7407 Tuesday, 24 May 2016 00:10

For Sri Lanka to attain its goal, it is of utmost importance to consolidate the budget which has gone out of control due to falling revenue and soaring expenditure   Crisis manifesting as a foreign exchange shortage Sr


Wisdom of a Monetary Board impassively watching over a fast declining capital base

Views - 6766 Monday, 16 May 2016 00:00

 Central Bank’s response is a salutary development A response issued by the Central Bank (available at: http://www.ft.lk/article/540589/Central-Bank-has-its-say-over--Continuously-loss-making-Central-Bank-is-no-better-than-Sri-Lankan-


Reintroducing repatriation requirement: Have the Finance Ministry and Central Bank gone back on thei

Views - 7034 Monday, 9 May 2016 00:10

Finance Minister Ravi Karunanayake and Central Bank Governor Arjuna Mahendran  – File photo Move to change exchange control into exchange management Prime Minister Ranil Wickremesinghe, in presenting the Economic


Continuously loss-making Central Bank is no better than SriLankan Airlines

Views - 7136 Tuesday, 3 May 2016 00:02

Central Bank capital depletion is also a landmine under PM’s feet Prime Minister Ranil Wickremesinghe, supported by Senior Minister Sarath Amunugama, castigated SriLankan Airlines in a recent press briefing (available at: http://www.ft.lk/


A cherry-picking Monetary Board when another major ‘bond scandal’ is rubbing on its nose

Views - 7044 Monday, 25 April 2016 00:10

Source: EconomyNext  Monetary Board is the authority on monetary policy The Central Bank of Sri Lanka has issued a response (available at: http://www.ft.lk/article/536676/Central-Bank-responds-to--Dilemma-in-Monetary-


Economic crisis management: Consensual logical and consistent policy package is need of the day

Views - 5991 Monday, 18 April 2016 00:05

   Taking a completely contradictory view to the wisdom pronounced by IMF Mission, Central Bank Governor Arjuna Mahendran is reported to have dismissed the need for monetary policy tightening   An economic cr


Hilmy Cader’s Fine Advice to Exporters: If the objective is to prosper, confront reality and think s

Views - 6524 Monday, 11 April 2016 00:10

MTI Consulting CEO Hilmy Cader - Pic by Daminda Harsha Perera A powerful shake up of exporters  In a recent forum and discussion on the country’s exports organised by MTI Consulting and Daily FT in Colombo, MTI Head H


Dilemma in monetary policy: Monetary Board being caught in ‘The Devil’s Alternative’?

Views - 8746 Monday, 4 April 2016 00:00

Central Bank Governor Arjuna Mahendran    Disappointing the market’s predictions When the Monetary Board of the Central Bank was due to announce its monetary policy decision in March 2016, the market


Right to Information Bill: A defeat of public aspirations for transparency in the Central Bank?

Views - 7279 Monday, 28 March 2016 00:10

 Pledge to allow citizens to get information from public bodies There was an important pledge given by the current government in its Manifesto seeking election to power at the General Elections held in August, 2015. That was to introduce me


Today's Columnists

MMDA, ACJU, politicians and women

Saturday, 16 February 2019

It is 10 years since Justice Saleem Marsoof (JSM) and his committee was appointed to review and make recommendations to reform the Muslim Marriage and Divorce Act (MMDA), passed originally in 1951 and amended in 1954, 1955, 1965 and 1969 before becom


President Trump looked for the failed idea of a wall

Saturday, 16 February 2019

The talks over the “Wall of Trump” between the US-Mexico Border Security broke down with Congressional leaders over the weekend. After the renewed call for a wall at his second State of the Union, President Donald Trump attended a political rally


‘The Man Who Would Be King’: Remembering Anura Bandaranaike on his 70th birth anniversary

Friday, 15 February 2019

‘The Man Who Would Be King’ is the title of a long tale written by Rudyard Kipling in 1888. This very popular story was made into a successful film starring Sean Connery, Michael Caine and Christopher Plummer by the well-known director John Husto


Of pseudo-democrats, discipline and the coming death of liberty?

Friday, 15 February 2019

I despair of our politicos and would-be politicians. Not that they are not all honourable men. From the honourable prime minister to the former defence secretary discharging his duty honourably after premature retirement! But that honour often dresse


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