Tumbling of crude oil prices: Economic laws say that this is a temporary phenomenon

Views - 6327 Monday, 22 December 2014 00:00

A drastic reduction in crude oil prices Crude oil prices in the world market have tumbled and they are still tumbling. The average price of the West Texas Intermediate category of crude oil stood at a level of $ 100 per barrel, which is equal to 159

Developing SL pharmaceutical industry: Concentrate on research and producing biomedical scientists

Views - 7556 Monday, 15 December 2014 00:00

A worthwhile suggestion that has been ignored At the pre-Budget meeting which the Treasury Secretary P.B. Jayasundera had with business leaders, an important proposal to take Sri Lanka to the future was made by Hemas Holdings Chairman Husein Esufall

IPS State of the Economy 2014: A critical probe shows hidden risks and defects of policies

Views - 6492 Monday, 8 December 2014 00:00

IPS, the forerunner in reviewing the country’s economy The Institute of Policy Studies (IPS), in issuing its 2014 State of the Economy Report, has drawn attention of Sri Lanka’s economic policy makers to a number of hidden risks and defects of t

Constitutional Reforms are meaningless unless opposing views are tolerated

Views - 6085 Monday, 1 December 2014 02:02

Wear the same tie as the boss but don’t agree to his unlawful orders Bank of Ceylon’s retired General Manager Sarath de Silva, addressing the Sri Jayewardenepura University’s Public Administration Alumni Association last week, left an importan

Indraratna Chinthana on sustained development: Still valid and will be valid forever

Views - 6347 Monday, 24 November 2014 00:00

The need for critically debating policy proposals Colombo University’s Emeritus Professor and Sri Lanka Economic Association’s President A.D.V. de S .Indraratna has just released in book form an updated and revised version of the SLEA presidenti

Single digit inflation for 5 years: Now the challenge is to get out of ‘Lowflation Trap’

Views - 7349 Monday, 17 November 2014 00:01

Driving down CCPI through administrative measures When the annual increase in the cost of living of average consumers in Colombo and suburbs declined from 3.5% in September to 1.6% in October 2014, the Central Bank could not hide its joy. In its pre

My View at 200: Objective was to change the monologue culture to dialogue and then to multilogue; bu

Views - 5870 Monday, 10 November 2014 00:00

Unbroken 200 runs Today’s My View – Economics Matters marks its 200th article published in this series on the economy, society, politics and global developments. It has appeared without failure on every Monday for nearly four years and maintaini

Now that Representative Democracy has become a mockery, the solution may lie in Liquid Democracy

Views - 9299 Monday, 3 November 2014 00:00

Discipline among Parliamentarians in good old days     This writer had an opportunity to observe a Budget debate in the old parliamentary building at Galle Face in 1974 when N.M. Perera, popularly known as NM, was the Minister of Finance. In that

Strategy in public policy: Continuous public consultations a must

Views - 8258 Monday, 27 October 2014 00:00

Democratic Socialist Republic of Sri Lanka? The official name of the country called Sri Lanka is the Democratic Socialist Republic of Sri Lanka. One may wonder what this means because many other countries have chosen to call themselves just Republic

When the engine of growth gets into a comfort zone, it is the engine driver who gets into trouble

Views - 6267 Monday, 20 October 2014 00:01

Private sector is the engine of growth and public sector is the engine driver Private sectors in modern economies are branded as ‘Engines of Growth’. They have earned this brand name due to their innovative power, resilience, foresight and abili

Governments are losing monopoly over economic statistics; it means markets better-informed now

Views - 6668 Monday, 13 October 2014 00:00

Offering a yielding handto politicians Politicians love to show better economic performance pictures to their voters. The statistics-producing bodies of governments love to please politicians by generating exactly the reports which the latter would

‘The Money Pipeline’: A worthy read by all

Views - 5983 Monday, 6 October 2014 00:00

The former Central Bank Deputy Governor and presently Chairperson of HNB cum Presidential Advisor, Ranee Jayamaha, has shared her decades-long experiences in payment systems and banking stability with readers in Sri Lanka as well as outside. Her book

Central Bank’s Monetary Policy Review: Is there a hidden macroeconomic anomaly?

Views - 9177 Monday, 29 September 2014 00:00

The monthly monetary policy review The Central Bank issued its monthly Monetary Policy Review on 23 September 2014 (available at Monetary Policy Review, September 2014). The

Lesson from Nigeria: Discovery of a natural resource by a country without good governance is a curse

Views - 6329 Monday, 22 September 2014 00:00

The Nigerian news that shocked the world During the last 12 month period, three pieces of news coming from Nigeria shocked the world. The first was the sacking of the Nigeria’s Central Bank Governor, Lamido Sanusi, by Nigeria’s President Goodlu

Sannasgala ‘Chinthana’: A worm’s eye view of village and society

Views - 11308 Monday, 15 September 2014 00:00

Two messages from Sannasgala’s ‘Amma’ Upul Shantha Sannasgala, popular Sinhala teacher cum writer, in his latest semi-autobiographical fiction, ‘Amma’ or ‘Mother,’ has left two pieces of thought for intellectuals to ponder. One is that

Sri Lanka can ‘leap-frog’ into the future through Nanotechnology

Views - 7054 Tuesday, 9 September 2014 00:17

Open campaign for learning nanotechnology When the new students arrived in the Bangkok-based international university, Asian Institute of Technology a month ago, a poster displayed practically on every wall on campus had invited students to offer co

Creative minds of writers can predict the future

Views - 6054 Monday, 1 September 2014 00:00

At the launch of ‘Asirimath Greesiya’ or ‘Wonder that is Greece’ by dramatist-novelist Ranjith Dharmakeerthi last week in Colombo, Colombo University’s senior Don Sarath Wijesoriya, who introduced the book to the audience, drew its attentio

Out-of-court settlements with errant banks: Is financial services industry on a dying path?

Views - 12070 Monday, 25 August 2014 00:00

Banks are at the receiving end The reports coming from global financial markets are not good for banks at all. Banking regulators have renewed their war against whom they perceive as errant banks. The law enforcement agencies in their respective cou

COPE’s control over public enterprises: A serious lapse in economic policy governance?

Views - 7056 Monday, 18 August 2014 00:34

N.M. Perera: Avoiding Parliamentary control over public institutions is undemocratic An eternal debate between veteran politician and LSSP leader Dr. N.M. Perera and Minister of State and Deputy Prime Minister J.R. Jayewardene in Parliament during 1

Bank capital is not a panacea

Views - 9598 Monday, 11 August 2014 00:00

Raghuram Rajan’s wisdom Reserve Bank of India Governor Raghuram Rajan, an illustrious academic but now a practising central banker, is reported to have left an important message to central bankers from South Asia at a seminar held at the Central B

A ‘Child’s Guide’ to the IMF’s press release on Sri Lanka

Views - 8866 Monday, 4 August 2014 00:00

An IMF mission with a mission The International Monetary Fund, better known as the IMF, has issued a press release on July 29, 2014 after its Executive Board had discussed the report presented to it by the Staff Mission that had visited Sri Lanka

World’s Fragile States: Sri Lanka should not ignore being classified as an alert state

Views - 8630 Monday, 28 July 2014 00:00

Sri Lanka a failed state according to Fragile State Index On the basis of the country’s score in 12 broad indicators, Sri Lanka is being continuously ranked, from 2006 – the year in which the country was included in the Index – as a fragi

SL external debt sustainability: Intervention by Practical Economist keeps the debate live

Views - 8402 Monday, 21 July 2014 00:03

Practical Economist’s re-entry to the fray In a welcome move, an economic analyst writing under the penname ‘Practical Economist’ has responded (available at:

Emerging China, Japan and Modi nexus: Should SL jump onto Modi’s bandwagon?

Views - 9754 Monday, 14 July 2014 00:45

Sri Lanka’s choice: whether or not to jump onto Modi’s bandwagon Dr. Ganeshan Wignaraja, Director of Research at Tokyo-based ADB Institute, made a presentation on an apt topic to a selected crowd at a seminar at the Institute of Policy Studies o

Central Bank does it again: Shoot the messenger while ignoring the message

Views - 7792 Monday, 7 July 2014 00:00

The heat-up of the debate on external debt sustainability is beneficial The Central Bank has renewed the public debate on Sri Lanka’s external debt sustainability by issuing a fresh clarification on 4 July through its Public Debt Department or PDD

Rev. Dr. Walpola Rahula: Trailblazer in Sri Lanka’s university education

Views - 10535 Monday, 30 June 2014 00:00

Contributions made by Rev. Dr. Walpola Sri Rahula to Buddhism, comparative religious studies and higher education in Sri Lanka and abroad are to be commemorated at a ceremony to be held at BMICH on 3 July by Reverend Walpola Sri Rahula Institute of B

Central Bank clarifies on debt sustainability: But it begs more questions than the ones answered!

Views - 6373 Monday, 23 June 2014 00:00

The Central Bank’s clarification on the external debt numbers The Central Bank in a right move has clarified the debt sustainability issues raised by this writer in a previous My View (available at:

Gender battle: Is it equality or equity women should fight for?

Views - 6748 Monday, 16 June 2014 00:05

An actress turned politician Smriti Zubin Irani, now India’s Minister of Human Resource Development but in February 2014 just a politician from the Bharathiya Janata Party, had spoken at the International Women’s Conference 2014 held in Bangalor

Sri Lanka’s Governance Scorecard: The declining indicators should ring warning bells for everyone

Views - 7265 Monday, 9 June 2014 00:00

Real growth should improve quality of life All countries aspire to attain high economic growth in the belief that high growth will improve the welfare of the people. For instance, Sri Lanka’s avowed economic goal has been to double the per capita

Finance Ministry Annual Report 2013: Rich with data but poor in statutory compliance

Views - 6194 Monday, 2 June 2014 00:00

Comprehensive progress report of the Government by Ministry of Finance The Ministry of Finance and Planning has issued its Annual Report for 2013 which it says has been published in terms of Section 13 of the Fiscal Management (Responsibility) Act

Today's Columnists

State of the economy of Sri Lanka

Saturday, 21 September 2019

I am not an economist nor do I profess to be an economic analyst. The views expressed in this presentation are those of a layman who has always been interested in the economic progress of Sri Lanka.

Premadasa, Père et Fils

Saturday, 21 September 2019

We are what time, circumstances and history has made of us. We are trapped in history. At age 77, I refuse to trap history in my mind. This essay is an obligation to history. Although J.R. Jayewardene introduced ‘Executive Presidentialism’, coer

Economy, business community and the Prime Minister

Friday, 20 September 2019

The speech made by Prime Minister Ranil Wickremesinghe as the Chief Guest of the Sri Lanka Economic Summit 2019 deserves very careful consideration by the country due to several reasons. This will no doubt be his last speech on economic policy to be

Sri Lanka needs to invest more on soft infrastructure

Friday, 20 September 2019

Developing countries like Sri Lanka will have to prepare for further downside risks in 2020 with the growing debt problems and the growth problems in Europe and the slowdown in Asia. Slower growth is already visible in weakening global trade and comm

Columnists More