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* Sri Lanka opposition economist blames Central Bank's decisions for economic woes
Tue, Feb 14, 2012, 09:08 pm SL Time, ColomboPage News Desk, Sri Lanka.
Source: http://www.colombopage.com/archive_12/Feb14_1329233890CH.php
Feb 14, Colombo: Sri Lanka's major opposition United National Party economic spokesman and parliamentarian Dr. Harsha de Silva said that the mismanagement of economy, particularly ignoring the ballooning trade deficit and under-pricing energy in an artificially controlled exchange rate and interest rate regime, had backlashed.
Issuing a statement regarding the economic situation, Dr. de Silva said that the "domino effect of the erroneous decision making by the miserably politicized Central Bank has resulted in a massive depreciation and an unprecedented increase in energy prices."
He added that the effect would be widespread and it would be felt by all.
MP de Silva adds that the enormity of the fallout will become clear in the coming days with people, being unable to meet their daily requirements, launch worker agitations for salary increases which could even spin out of control.
"The government has no one to blame but themselves for this predicament and the public would now realize the vituperative attacks made on their critics were of bad taste and unprofessional," Dr. de Silva claimed.
Tue, Feb 14, 2012, 09:08 pm SL Time, ColomboPage News Desk, Sri Lanka.
Source: http://www.colombopage.com/archive_12/Feb14_1329233890CH.php
Feb 14, Colombo: Sri Lanka's major opposition United National Party economic spokesman and parliamentarian Dr. Harsha de Silva said that the mismanagement of economy, particularly ignoring the ballooning trade deficit and under-pricing energy in an artificially controlled exchange rate and interest rate regime, had backlashed.
Issuing a statement regarding the economic situation, Dr. de Silva said that the "domino effect of the erroneous decision making by the miserably politicized Central Bank has resulted in a massive depreciation and an unprecedented increase in energy prices."
He added that the effect would be widespread and it would be felt by all.
MP de Silva adds that the enormity of the fallout will become clear in the coming days with people, being unable to meet their daily requirements, launch worker agitations for salary increases which could even spin out of control.
"The government has no one to blame but themselves for this predicament and the public would now realize the vituperative attacks made on their critics were of bad taste and unprofessional," Dr. de Silva claimed.
