இலங்கை அரசாங்கம் தற்போது 75,000 கோடி ரூபா கடனில் உள்ளதாக ஐக்கிய தேசியக் கட்சியின் தேசிய அமைப்பாளரும் பாராளுமன்ற உறுப்பினருமான தயா கமகே தெரிவித்துள்ளார். தேசிய சேமிப்பு வங்கி நூற்றுக்கு ஒன்பது வீத வட்டிப்படி 750 மில்லியன் டொலர்களை கடனாக பெற்றுள்ளதாகவும் அவர் குறிப்பிட்டுள்ளார். கொழும்பில் இன்று இடம்பெற்ற எதிர்க் கட்சிகளின் கூட்டணி ஊடகவியலாளர் மாநாட்டின்போது அவர் இவ்வாறு குறிப்பிட்டுள்ளார். பொதுநலவாய மாநாட்டுக்காக 500 கோடி செலவு செய்து இறக்குமதி செய்யப்படும் வாகனங்கள், அம் மாநாடு முடிந்ததன் பின்னர் அமைச்சர்களின் உறவினர்களுக்கு வழங்கப்படும் என அவர் தெரிவித்துள்ளார். மாகாணசபைத் தேர்தல்கள் சுமூகமாக நடைபெற்றதாக தேர்தல்கள் ஆணையாளர் தெரிவித்திருந்த போதும் வாக்குச்சீட்டுகள் மீட்கப்பட்டது சுமூகமான தேர்தலை அடையாளப்படுத்தவில்லை எனவும் தயா கமகே கூறினார்.

 

http://seithy.com/breifNews.php?newsID=93822&category=TamilNews&language=tamil

9 வீத வட்டி ஆச்சரியமாக உள்ளது...........

இது மஹிந்த கூட்டம் காசை அடித்து வேறு எங்கோ கொண்டு சென்று பின் கடனான பெறுகிறார்கள் போல் இருக்கிறது.

9 வீத வட்டி என்றால்................... இலங்கை அரசுக்கு கடன் கொடுப்பதற்கு பலர் முன்னிலையில் நிற்பார்கள்.

Sri Lanka cautioned against high yield foreign debt by IMF

September 26, 2013, 7:07 pm 

 

Sri Lanka has to be careful of borrowing from abroad at high rates, amid low growth and flat state revenues, an International Monetary Fund official said.

 

Todd Schneider who headed an IMF mission in the wake of a successful 2.6 billion US dollar bailout, said Sri Lanka’s public debt dynamics were sustainable there were now downward external risks.

 

"New external borrowings should be done with a close eye on sustainability, and the need to ensure that investments generate the resources needed to service these obligations," Schneider said.

 

Earlier this month Sri Lanka borrowed 750 million US dollars through a state-run bank to finance state spending without the state directly going to markets at a rate of 8.875 percent, about 300 basis points higher than the last bond sale by another state bank.

 

External risk perceptions have been elevated to all frontier markets as a bubble-like sangfroid with which lenders financed emerging and frontier markets fizzled out during the last quarter.

 

Ostensibly the cautionary cold water on emerging market bond investors came from expectations of so-called ‘tapering’ of 80 billion US dollars a month money printing operation by the Fed, which has since been delayed.

 

But analysts say collapsing gold prices showed that underlying credit and commodity markets were already correcting.

 

Sri Lanka had earlier borrowed at rates at around 6.25 percent from international markets.

 

But Sri Lanka has been borrowing rupee denominated debt - including from abroad - at rates ranging from 11 to 13 percent.

 

Countries like Indonesia have also seen sovereign yields move up by around 300 basis points.

 

"If you look at the balance of risks on the external side, for the region as a whole, it is somewhat negative compared to last year," Schneider said.

 

IMF also said monetary policy should be kept on hold, which will also give time to assess the impact of loosening that has already been done.

 

Sri Lanka cut the bank reserve ratio (the share of deposits collected that must be kept at the Central Bank and also cut policy rates) leading to a loss of foreign reserves and there was also maturing foreign held rupee bonds that went out.

 

Any rupees released to the banking system will result in a foreign reserve loss when the currency peg is defended. If left undefended, the currency will depreciated from the pressure of liquidity released.

 

However reserves have since been temporarily built up through the sale of dollar bonds.

 

The Central Bank said foreign reserves had reached 7.0 billion rupees by September 23, though some of the dollars had since left the country, latest data show.

 

"We see there is possibly room to strengthen the external position in the accumulation of reserves," Schneider said.

 

The optimal volume of foreign reserves a country needs however is debatable.

 

A country that does not sterilize interventions (inject domestic money to create fresh import demand after selling dollars to protect a peg) and allows interest rates to adjust accordingly does not need much more reserves than its domestic monetary base.

 

Such a monetary authority can back the domestic currency one to one with dollars and if needed can redeem all existing domestic currency with forex.

 

But a country with a policy rate target that sells dollars to protect a currency and inject domestic money to keep interest rates flat can lose an infinite volume of foreign reserves as long as forex sales are sterilized.

 

The IMF however cautions against prolonged currency defence and instead advices the exchange to weaken through a ‘flexible exchange rate’.

 

There were downside risks for the rupee the IMF said, in the context of Fed tapering.

 

"In this more complex global environment, it will be essential to adhere to the flexible exchange rate regime that has been a core component of the policy framework since early 2012," Schneider said.

 

"Intervention should be limited to dealing with excessive short-term volatility.

 

"Contingency plans—including a mix of fiscal and monetary policies to counter potential market pressures—should be prepared in anticipation of possible shifts in market conditions."

 

Some analysts have warned that the Central Bank’s habit of purchasing all large dollar inflows especially to the state, and flooding money markets with rupee tended to increase downside risks for the rupee, requiring unsterilized sales to prevent the currency weakening.

http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=88861

Sri Lanka cautioned against high yield foreign debt by IMF

September 26, 2013, 7:07 pm 

 

 

Earlier this month Sri Lanka borrowed 750 million US dollars through a state-run bank to finance state spending without the state directly going to markets at a rate of 8.875 percent, about 300 basis points higher than the last bond sale by another state bank.

 

 

The IMF however cautions against prolonged currency defence and instead advices the exchange to weaken through a ‘flexible exchange rate’.

 

There were downside risks for the rupee the IMF said, in the context of Fed tapering.

 

"In this more complex global environment, it will be essential to adhere to the flexible exchange rate regime that has been a core component of the policy framework since early 2012," Schneider said.

 

"Intervention should be limited to dealing with excessive short-term volatility.

 

"Contingency plans—including a mix of fiscal and monetary policies to counter potential market pressures—should be prepared in anticipation of possible shifts in market conditions."

 

Some analysts have warned that the Central Bank’s habit of purchasing all large dollar inflows especially to the state, and flooding money markets with rupee tended to increase downside risks for the rupee, requiring unsterilized sales to prevent the currency weakening.

http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=88861

 

 

என்னுடைய சந்தேகம் இன்னும் வலுவாகி விட்டது ...........

என்னமோ சுத்துமாத்து நடக்குது.

முன்னுறு தரம் கூடிய வட்டியை யாரும் பெறுவானா?

அவர்களுடைய காசுக்கு அரசு பணத்தில் வட்டி போகிறது போலிருக்கு 

solid income. great investment strategis

அதுசரி இப்ப உலகத்திலை எந்தநாடு கடனில்லாமல் சீவியம் நடத்துது?????

சும்மா அரசியல்வியாபாரத்துக்காக காட்டுக்கத்து கத்தப்படாது....

கடன் இல்லாமல் வாழோணுமெண்டால் இன்னும் நூறுவருசம் ஒருறாத்தல் பாணுக்கு கியூவிலை இரண்டுமணித்தியாலம் நிக்கோணும்.....ரெடியா?

 

சொந்தமாய் ஒரு குண்டூசி தயாரிக்க வக்கில்லை......இதுக்கை வேறை கடனாம் கவலையாம்