Darini Rajasingham-Senanayake, in Colombo Telegraph,3 October 2022, where the title reads: “The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture?”
As the visiting International Monetary Fund (IMF), team boarded a return flight to Washington DC after a week in Colombo, the Paris Club, stepped in though a revolving door at the strategic Indian Ocean island’s Bandaranaike International Airport in the first week of September.
The signing of a ‘Staff Level Agreement’ with the deeply unpopular ‘Ranil Rajapaksa’ regime accused of Economic Crimes was announced before the IMF team’s departure. However, the contents of the agreement like the IMF’s Debt Sustainability Analysis Report on Sri Lanka remain shrouded in mystery except for news of a $2.9 billion loan to be disbursed over 4 years!
Darini Rajasingham-Senanayake, in The Morning Leader, 24 August 2022, with this title “IMF privatising and the Adani Greenwash”
Buenos Aires, Argentina, has been rocked by massive protests against austerity measures imposed by the International Monetary Fund (IMF). Structural reforms with austerity have resulted in soaring inflation, currency depreciation, poverty, and inequality that is eroding the Argentinean society and economy, while enabling the bailout of private lenders and vulture funds like BlackRock.
ONE:“Pivot-to-Asia: America executes a Ligthening Coup to take control ofa strategic Island in the Indian Ocean” …. in LankaWeb, 13 June 2022 …. note DATE
Bewildered, reeling and confused, Sri Lankans are just beginning to pick up the pieces of the jigsaw to decipher the events of Black-Monday, 09 May 22, when America, with its all-too-familiar ‘false-flag’ operations, executed a lightning Coup, to take control of the strategic Island in the Indian Ocean.
Taking control of the Island-Nation was critical to the Americans to implement their re-chartered game-plan for the Indian-Ocean region; this plan, they were compelled to develop following the unexpected defeat of their proxy mercenaries in Sri Lanka.
Dilini Madushanki, in Ceylon Today, 17 July 2022, with this title “Sri Lanka a ‘warning sign’ for countries with high debt levels and limited policy space — IMF,”
Claiming Sri Lanka is a ‘warning sign’ for countries with high debt levels, IMF Chief Kristalina Georgieva warned officials from the Group of 20 major economies to take urgent action to combat inflation, warning that the “exceptionally uncertain” global economic outlook could turn worse if higher prices persisted.
Georgieva, speaking at a G20 finance officials meeting in Indonesia, said “I wish the global economic outlook was as bright as the sky in Bali, but unfortunately, it is not. The outlook has darkened significantly, and uncertainty is exceptionally high. Downside risks about which the IMF had previously warned have now materialized.”
Chandrasena Maliyadde, in Daily Ft, 20 July 2022, with this title “Central Bank, its independence and us”
An expert panel discussion on ‘Surviving the Current Economic Crisis: Ex-Central Bankers in Dialogue’ was held in early June. Some speakers stressed that the need of the hour is an independent Central Bank (CBSL). But its relevance or impact on surviving the current economic crisis was not spelt out. Maybe we ignorant laymen could not understand. Perhaps independence may be for the survival of the Central Bank and its officers who spend time in aiconditioned rooms away from the crisis.
Former Central Bank Governors: Nandalal Weerasinghe, Ajith Cabraal & WD Lakshman
Writing from Canada (where he has been resident for a while), Retd Brigadier Ranjan De Silva, an Aloysian like me and a Peradeniya graduate from my time in the late 1950s,has sent me a Note with explicit criticisms of the positions adopted in some items within Thuppahi and with (as you will find out) contentious claims about the political economy associated with the programmes of the Mahinda Rajapaksa administrations in the recent past.
I place his series of charges in the public domain. I will respond in due course because I am inundated with email demands and Thuppahi tasks at the moment. But I place his readings of the past in the public realm NOW because I am confident that some of his assessments are horrendous and will attract a host or replies which will provide pertinent information about the economic processes and political manoeuvres that are buffeting the island nation of Sri Lanka.
Moreover, I reckon that Ranjan has drunk water and whisky at some American bar and been overwhelmed by the ambience of that world….. Michael Roberts
Benjamin Norton, in Multipolarista, July 12 July 2022 where the title reads thus “Real debt trap: Sri Lanka owes vast majority to West, not China” ... with highlighting emphasis in colours imposde by the Editor, Thuppahi
Sri Lanka owes 81% of its external debt to US and European financial institutions and Western allies Japan and India. China owns just 10%. But Washington blames imaginary “Chinese debt traps” for the nation’s crisis, as it considers a 17th IMF structural adjustment program.
Thuppahi's Blog · This web site presents the interventions of MICHAEL ROBERTS in the public realm with reference to Sri Lankan political affairs. It will embrace the politics of cricket as well. ROBERTS was educated at St. Aloysius College in Galle and the universities of Peradeniya and Oxford. He taught History at Peradeniya University and Anthropology at Adelaide university. He is now retired and lives in Adelaide.