FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post
Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer


Latest topics

» ASSOCIATED MOTOR FINANCE COMPANY PLC (AMF.N0000)
by ForeigNer Today at 10:32 am

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by DimuthuKW Today at 10:09 am

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by shakthi1974 Today at 7:54 am

» ALLIANCE FINANCE COMPANY PLC (ALLI.N0000)
by Gaudente Yesterday at 11:55 pm

» Daily Foreign Transactions update
by Pradeep90 Yesterday at 11:08 pm

» LUCKY LANKA MILK PROCESSING COMPANY PLC (LLMP.N0000)
by Eranx Yesterday at 11:04 pm

» TOKYO CEMENT COMPANY (LANKA) PLC
by Zahara khan Yesterday at 10:40 pm

» DVP is unfair?
by xhunter Yesterday at 10:20 pm

» Directors' Dealings 23/06/2021
by SAGA Yesterday at 10:07 pm

» SINH.N0000 (SINGHE HOSPITALS)
by SAGA Yesterday at 9:45 pm

» Top Foreign Trading today - 23/06/2021
by SAGA Yesterday at 9:05 pm

» Delivery Versus Payment (DVP) on CSE!
by samaritan Yesterday at 8:45 pm

» Stock Market Entertainment
by samaritan Yesterday at 5:55 pm

» TOP 20 LISTED COMPANIES BY FINANCIAL CHRONICLE™
by Eranga87 Yesterday at 3:29 pm

» DVP යනු කුමක්ද? Explained
by samaritan Yesterday at 1:58 pm

» Money Printing Up Rs15.8B
by ResearchMan Yesterday at 11:58 am

» GLAS will be winner with Super Gain.
by ONTHEMONEY Yesterday at 7:16 am

» Top Foreign Trading today - 22/06/2021
by SAGA Tue Jun 22, 2021 8:50 pm

» RWSL for short term profits
by madukp Tue Jun 22, 2021 5:17 pm

» YORK has a potential to go double ...
by Vasyan Tue Jun 22, 2021 5:07 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Zimbabwean Finance Minister Says the Country Has Just $217 In The Bank

Zimbabwean Finance Minister Says the Country Has Just $217 In The Bank

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
More than 12 million people live there, but Zimbabwe's government currently doesn't even have enough money to buy a child's bicycle.


By Agence France Presse | Business Insider – 18 hours ago

Fri, Jan 25, 2013 16:26 GMT
After paying public workers' salaries last week, the balance in cash-strapped Zimbabwe's government public account stood at just $217, Finance Minister Tendai Biti said Tuesday.

"Last week when we paid civil servants there was $217 (left) in government coffers," Biti told journalists in the capital Harare, claiming some of them had healthier bank balances than the state.

The government finances are in paralysis state at the present moment. We are failing to meet our targets."

Zimbabwe's economy went into free-fall at the turn of the millennium, after President Robert Mugabe began seizing white-owned farms.

The move demolished investor confidence in the country, paralysed production, prompted international sanctions and scared off tourists.

After more than a decade -- in which the country suffered hyper-inflation of 231 million percent and infrastructure that crumbled as quickly as prices went up -- the situation is now more stable.

But public finances remain a mess and local business battles against unstable electricity supplies, lack of liquidity and high labour costs.

Zimbabwe's government has warned it does not have enough money to fund a constitutional referendum and elections expected this year.

Biti said that left no choice but to ask the donors for cash.

"We will be approaching the international community," he said.

The country's elections agency said it requires $104 million to organise the vote.

Government's national budget for this year stands at $3.8 billion and the economy is projected to grow 5.0 percent.

The mineral rich country is now using the US dollar and the South African rand.

http://uk.finance.yahoo.com/news/zimbabwean-finance-minister-says-country-211121964.html

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Do not worry, Soon we can beat them. Very Happy

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
This shows the value of the Central bank governor and the Secretary of finance in any economy. Any bad decision will back fire at any movement with the multiplier effect. Money supply and interest rates should be managed properly. That is why Sri alnkan Gov. Reduces the money supply last year and now seems they relax it slowly to back the growth rate. Even though people says we got only 6% growth, This 6% is due to the retraction of the Money supply which was keen than the growth.

I still dont know the simple reason for these type of hyper inflation since i didnt meet a good economist to explain it. Can any body explain it please. ( I know the money multiplier effect but how it leads to a hyper inflation ? 100% 200% inflation)

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Any Way Sri lanka will not come to that level.

But we can't expect reasonable return on investment

for infrastructure Development based on foreign loans
such as Hambathota Habour,High ways, Airport etc IMMEDIATLY

Payment of foreign loans may be a big problem IF NOT
MANAGED PROPERLY

Biggest problem is level of corruption

D.G.Dayaratne
Manager - Equity Analytics





Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum