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Did Expert Committee use similar standards in evaluating MCC and Port City loans?

Sri Lanka has at least US Dollars one and a half billion (USD $1.5B) debt repayment due later this year and both the status of the global economy in the Covid-19 environment and our own vulnerabilities caused by the pandemic, namely the total curtailment of foreign tourism, the drastic drop in expatriate worker earnings and reduced earnings from exports such as apparel, together with fiscal slippage, has downgraded our international credit ratings and made access to international financial markets prohibitively expensive. Though our trade balance has been assisted in no small measure by the curtailment of vehicle imports and historically low global crude oil prices, (not passed on to the Sri Lankan public), we still have serious economic challenges ahead, especially with regards our foreign reserves, balance of payments and exchange rates. Pending subsequent confirmation through Central Bank numbers, in all probability, we are in a period of negative economic growth, increasing unemployment and rising inflation, or stagflation.Read More...

Big power tensions rise in IOR, dimming South's growth prospects


India-China relations have plummeted afresh in the wake of the military stand-off between the countries in Eastern Ladakh in mid-June and although these frayed ties are reportedly on the mend, the countries are at the heart of a new round of big power ...

Beauty tips... the easy way


Sleeping with your face pressed into your pillows, and blankets, can contribute to wrinkles in a big way. But, as strange as it might seem, you can use tape to guard against wrinkles, while you sleep! Just apply a piece of clear medical tape, over wrin...

Rollercoaster ride... to supermodel status


Sayuri Jayarathne is a supermodel, indeed. Perhaps, she is the first to win two crowns, on one stage (Face of Sri Lanka, and Tourism Queen Sri Lanka), and then the big scene - 2nd runner-up at the Supermodel International pageant, held in Thailand, ear...

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