Category Archives: export issues

Sri Lanka’s Economic Prospects reviewed by the Governor of Central Bank

 Dr. Indrajit Coomaraswamy, Governor, Central Bank of Sri Lanka, presenting the Gamani Corea Memorial Lecture on Monday, 6th November, 2017 at 5.00 p.m. at the BMICH , entitled“Towards a vibrant economy and prosperous country”

I -Introduction: The theme of my remarks this evening is going to be Towards a Vibrant Economy and Prosperous Country.  I intend to begin by trying to make the case that this is probably the most favourable set of circumstances Sri Lanka has enjoyed for over five or six decades. I then propose to talk about key paradigm shifts which have changed the landscape for policy-making; the frameworks that have been put in place for macroeconomic policy making; the growth model; the policies to strengthen the growth framework; and some of the Government’s major development programmes.  These are embedded in the Government’s Vision 2025 document.

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The Scam and Spam World of Neo-Liberalism, 1977-2917

Sumanasiri Liyanage,   in The Island, 3 August 2017, which has the title  Reflections on four decades of neo-liberalism: 1977- 2017″”

 

Senani and Kalpa, two of my former students, gave me a wonderful gift when they returned to Sri Lanka for a summer vacation from the New School of Social Research in New York. The gift that is a copy of Arundhati Roy’s second novel, The Ministry of Utmost Happiness, provided me loads of thought on the subject that I intend to deal with in this essay. Of course her narrative is about India. The following quotation appears to be equally applicable to Sri Lanka’s journey in the last four decades through neoliberalism. On page 105, she writes: “The summer of the city’s resurrection had also been the summer of scams-coal scams, iron-ore scams, housing scams, insurance scams, stamp-paper scams, phone-licence scams, land scams, dam scams, irrigation scams, arms and ammunition scams, petrol-pump scams, polio-vaccine scams, electricity-bill scams, school-book scams, God Men scams, drought-relief scams, car-number plate scams, voter-list scams, identity-card scams- in which politicians, businessmen, businessmen-politicians and politician-businessmen had made off with unimaginable quantities of public money.” If one wants to Sri Lankanize the list she may do some additions and subtractions like karunka scams, pepper scams and of course bond scams. Continue reading

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High Tea at Canberra as Lanka’s Tea Trade stimulates the World Palate

News Item from High Commission — Canberra, 7 July 2017

The Global Ceylon Tea Party celebrating the 150th anniversary of Ceylon Tea got underway on 6th July with the first party in the Pacific region being held in Canberra at the  Sri Lanka High Commission. Specially identified Tea businesses, Tea traders, travel writers & firms and selected academics, officials, diplomats were invited to this unique event.

The programme commenced with a video presentation on the symbol of quality that is Ceylon Tea, and High Commissioner S. Skandakumar addressing the gathering with an overview of the long traditions to ensure the quality and standard that are synonymous with Sri Lanka’s tea industry which has put the country on the world map.

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For Sri Lanka: Rajendra Theagarajah’s Exhortations to Canadian Tamils

Item in Lankareporter.com… https://lankareporter.com/blog/need-access-markets-not-handouts-expatriates-rajendra-theagarajahs-canada-speech/

Partner with us in Sri Lanka, not to build a social welfare state, but to build an entrepreneurially focused new Sri Lanka, was the message of Rajendra Theagarajah, Vice Chairman of Cargills Bank who was the guest of honour at the Canadian Tamils’ Chamber of Commerce gala and awards ceremony in Toronto. “No handouts, why not engage?” he said. He urged innovative Sri Lankan Tamil entrepreneurs in Canada to utilize hundreds of graduates each year produced by the University of Jaffna’s IT computing program and the new engineering institute of the North in Ariviyal Nagar, Killinochi.

Rajendra Theagarajah, Vice Chairman of Cargills Bank who was the guest of honour at the Canadian Tamils’ Chamber of Commerce gala and awards ceremony. (Picture by Gnane Gananedran)

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Volatile and Grim Economic Prospects for Sri Lanka: Three Voices

Sam Bresnick, in Daily News, 19 June 2017, with title “Economic Endeavour : Uncertain Road to Recovery” … with highlighting being the work of The Editor Thuppahi

It is no secret that Sri Lanka is currently navigating choppy economic waters as it shifts strategies in an uncertain moment in the world economy. The move towards private sector-led growth and away from public sector-sponsored development is, according to several economists, necessary given the government’s debt situation. But that does not mean that the transition has been seamless or easy. On the contrary, Sri Lanka is going through growing pains as it tries to jump start its export industry and attract foreign-direct investment (FDI).

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