DIGITAL EDITION | TELEVION

Sunday, October 2, 2022

DIGITAL EDITION | TELEVION

Sunday, October 2, 2022

Sri Lanka needs to install Currency Board now

Sri Lanka needs to mothball the Central Bank and install a Currency Board now, Economist Steve Hanke noted.

The present-day Sri Lanka is in a death spiral as the inflation is at 117 – 122 percent, “Things are so bad even IMF refuses to offer Sri Lanka a bailout loan,” the Johns Hopkins University Professor Twittered.

“Sri Lanka has had 16 IMF programmes. None have worked,” Hanke added.

The International Monetary Fund (IMF) ended discussions with Sri Lanka, failing to conclude a deal for a bailout package for the near-bankrupt nation after 10-days.

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