Are IMF conditions bad?

soileconomy wrote:Dealers , Bankers . Importers, Exporters are worried about most wanted IMF next installment.
It is argued it is very important to get it at this juncture
This topic is highly related and connected which is discussed in the most annual reports under Foreign Currency Risk and other economic indicators.
But that is taken to gain and attack , by our politicians............
If we take a fair , unbiased discussion.....Where are we ?

UKboy wrote:

soileconomy wrote:Dealers , Bankers . Importers, Exporters are worried about most wanted IMF next installment.
It is argued it is very important to get it at this juncture
This topic is highly related and connected which is discussed in the most annual reports under Foreign Currency Risk and other economic indicators.
But that is taken to gain and attack , by our politicians............
If we take a fair , unbiased discussion.....Where are we ?

However we are now in a deep s£$t. There's no quick solution for the current BOP crisis. So we have no other option but say Yes to all IMF conditions.

I can see another round of fuel hike in coming months.
I'm pretty sure government will arrange more and more international bonds in $ and that will the best temporary solution to ease the current BOP crisis.

Medium term we must encourage more n more young people to go aboard as employees.
I think government should reduce the level of Art graduates coming from local universities. It's a just waste of tax payer's money. I would love to see plumbers, carpenters, technicians are coming from local unis other than art graduates. Sorry

soileconomy wrote:Dealers , Bankers . Importers, Exporters are worried about most wanted IMF next installment.
It is argued it is very important to get it at this juncture
This topic is highly related and connected which is discussed in the most annual reports under Foreign Currency Risk and other economic indicators.
But that is taken to gain and attack , by our politicians............
If we take a fair , unbiased discussion.....Where are we ?

UKboy wrote:

soileconomy wrote:Dealers , Bankers . Importers, Exporters are worried about most wanted IMF next installment.
It is argued it is very important to get it at this juncture
This topic is highly related and connected which is discussed in the most annual reports under Foreign Currency Risk and other economic indicators.
But that is taken to gain and attack , by our politicians............
If we take a fair , unbiased discussion.....Where are we ?

However we are now in a deep s£$t. There's no quick solution for the current BOP crisis. So we have no other option but say Yes to all IMF conditions.

I can see another round of fuel hike in coming months.
I'm pretty sure government will arrange more and more international bonds in $ and that will the best temporary solution to ease the current BOP crisis.

Medium term we must encourage more n more young people to go aboard as employees.
I think government should reduce the level of Art graduates coming from local universities. It's a just waste of tax payer's money. I would love to see plumbers, carpenters, technicians are coming from local unis other than art graduates. Sorry

greedy wrote:Best person to answer is our central bank governor. AT on point he misled the crowd regarding interest rates on the facility and also said Sri Lanka did not want the remaining balance from the facility.

aj wrote:When you borrow you become a slave to the lender.
Exceptions: Sri Lankan business tycoons who take massive loans from the government banks.

WildBear wrote:

greedy wrote:Best person to answer is our central bank governor. AT on point he misled the crowd regarding interest rates on the facility and also said Sri Lanka did not want the remaining balance from the facility.

when he was criticized earlier,well in advanced by economists, central bank governor acted as he is the monetary policy Guru, he claimed CB has more than enough reserves to defend the rupee.but next few months,he led the whole country to deep shit and now stay silent.unfortunately the public ultimately bear the cost and pay the penalty.This what happens when the sword given to the monkey to save the king.We should salute Dr P.B.Jayasundara-secretary to the treasury and many other economists who forecasted this in advance

UKboy wrote:
Medium term we must encourage more n more young people to go aboard as employees.
I think government should reduce the level of Art graduates coming from local universities. It's a just waste of tax payer's money. I would love to see plumbers, carpenters, technicians are coming from local unis other than art graduates. Sorry

WildBear wrote:

greedy wrote:Best person to answer is our central bank governor. AT on point he misled the crowd regarding interest rates on the facility and also said Sri Lanka did not want the remaining balance from the facility.

when he was criticized earlier,well in advanced by economists, central bank governor acted as he is the monetary policy Guru, he claimed CB has more than enough reserves to defend the rupee.but next few months,he led the whole country to deep shit and now stay silent.unfortunately the public ultimately bear the cost and pay the penalty.This what happens when the sword given to the monkey to save the king.We should salute Dr P.B.Jayasundara-secretary to the treasury and many other economists who forecasted this in advance

slstock wrote:

WildBear wrote:

greedy wrote:Best person to answer is our central bank governor. AT on point he misled the crowd regarding interest rates on the facility and also said Sri Lanka did not want the remaining balance from the facility.

when he was criticized earlier,well in advanced by economists, central bank governor acted as he is the monetary policy Guru, he claimed CB has more than enough reserves to defend the rupee.but next few months,he led the whole country to deep shit and now stay silent.unfortunately the public ultimately bear the cost and pay the penalty.This what happens when the sword given to the monkey to save the king.We should salute Dr P.B.Jayasundara-secretary to the treasury and many other economists who forecasted this in advance

Yes , it was reported that it was CB govenors idea to sell our reserve money to defend the $. Dr PBJ was opposing it. Not to mention also saying that we do not need the IMF facility.
This is serious lack of management skills even on IMF warnings which was made last year about defending the $.

These people in high places should understand that their decisions are not personal money and will effect the whole country. Is there no advisory board or can individuals take single decisions affecting the country like this with a sword in hand.
It a real pity that because of the lack of foresight and stubbornness many innocent people will have to suffer. No the big shots.

greedy wrote:

slstock wrote:

WildBear wrote:

greedy wrote:Best person to answer is our central bank governor. AT on point he misled the crowd regarding interest rates on the facility and also said Sri Lanka did not want the remaining balance from the facility.

when he was criticized earlier,well in advanced by economists, central bank governor acted as he is the monetary policy Guru, he claimed CB has more than enough reserves to defend the rupee.but next few months,he led the whole country to deep shit and now stay silent.unfortunately the public ultimately bear the cost and pay the penalty.This what happens when the sword given to the monkey to save the king.We should salute Dr P.B.Jayasundara-secretary to the treasury and many other economists who forecasted this in advance

Yes , it was reported that it was CB govenors idea to sell our reserve money to defend the $. Dr PBJ was opposing it. Not to mention also saying that we do not need the IMF facility.
This is serious lack of management skills even on IMF warnings which was made last year about defending the $.

These people in high places should understand that their decisions are not personal money and will effect the whole country. Is there no advisory board or can individuals take single decisions affecting the country like this with a sword in hand.
It a real pity that because of the lack of foresight and stubbornness many innocent people will have to suffer. No the big shots.

Again the big question will anyone take responsibility OR will anyone be held accountable?

slstock wrote:
To hear anyone in high places saying " I take responsibility or accountability for this issue" is like taking feathers from a tortoise. Actually I cannot remember having heard anyone in the recent past, saying this professionally or personally.

Sometimes guilt shame and principles lead people to do the correct thing or correct a mistake . How many has these ?

greedy wrote:

slstock wrote:

WildBear wrote:

greedy wrote:Best person to answer is our central bank governor. AT on point he misled the crowd regarding interest rates on the facility and also said Sri Lanka did not want the remaining balance from the facility.

when he was criticized earlier,well in advanced by economists, central bank governor acted as he is the monetary policy Guru, he claimed CB has more than enough reserves to defend the rupee.but next few months,he led the whole country to deep shit and now stay silent.unfortunately the public ultimately bear the cost and pay the penalty.This what happens when the sword given to the monkey to save the king.We should salute Dr P.B.Jayasundara-secretary to the treasury and many other economists who forecasted this in advance

Yes , it was reported that it was CB govenors idea to sell our reserve money to defend the $. Dr PBJ was opposing it. Not to mention also saying that we do not need the IMF facility.
This is serious lack of management skills even on IMF warnings which was made last year about defending the $.

These people in high places should understand that their decisions are not personal money and will effect the whole country. Is there no advisory board or can individuals take single decisions affecting the country like this with a sword in hand.
It a real pity that because of the lack of foresight and stubbornness many innocent people will have to suffer. No the big shots.

Again the big question will anyone take responsibility OR will anyone be held accountable?