Nishan De Mel

Dollar Drought Leaves Sri Lanka Groping in the Dark

by |22 January 202224 January 2022|Verité in the News

Published on Nikkei Asia As Sri Lanka's dollar scarcity worsens, a fresh crop of unusual signs has surfaced about spreading shortages of basic goods. "Candles not available due to gas shortage" was one. It was placed at St. Anthony's church,...

Explainer: Sri Lanka on the Edge as Debt Burden Mounts

by |17 January 202221 January 2022|Verité in the News

Published on Reuters Hit hard by the COVID-19 pandemic, Sri Lanka is facing its most serious financial crisis in years, raising doubts about its ability to pay its creditors. On Tuesday, the island nation will repay $500 million towards an...

Sri Lanka’s Imports Increased in 2021 – Cabraal

by |11 January 202218 January 2022|Verité in the News

Published on Newswire Sri Lanka’s import expenses increased to US$ 21.6 billion in 2021, Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal has announced. He pointed out that import expenses stood at US$ 16.1 billion in...

Economist Calls for Debt Default to Avert Hardships on People

by |10 January 202213 January 2022|Verité in the News

Published on Daily Mirror Senior economist Dr. Nishan de Mel says paying down debt won’t improve the country’s sovereign rating, instead it could trigger further downgrades His claim sparks immediate pushback, particularly from investor and financial market participants They warn...

Central Bank sells gold worth US$ 206mn to shore up reserves

by |09 January 202213 January 2022|Verité in the News

Published on The Sunday Times The Central Bank sold more than half of its gold reserve–54.1 percent or US$ 206.8mn worth– last month to shore up forex reserves that had dropped to around a month of imports in November 2021....

CB says Funds Allocated for Jan. 18 Bond Settlement

by |07 January 202218 January 2022|Verité in the News

Published on Daily Mirror It appears that CB is positive of wrapping up US $ 1.9bn Indian funding within this month CB is also hopeful of US $ 1bn worth of swap line from Qatar Leading economist advises govt. not...

Business Sentiment – Confidence at A Seven Month High

by |03 January 202206 January 2022|Verité in the News

Published on Ada Derena Biz At a recent economic forum organised by the Ceylon Chamber of Commerce, Nishan de Mel – the Executive Director of Verité Research – stated that Sri Lanka should pursue a debt restructure by drawing up...

Fitch Rating Revision: Debt default fears worsen but Lanka assures repayment

by |19 December 202106 January 2022|Verité in the News

Published on The Sunday Times Sri Lanka is running on empty and may be perilously close to defaulting on its foreign debt payments, the latest international sovereign ratings downgrade suggests. Citing an “increased probability of default’’, Fitch Ratings on Friday...

Budget Deeply Flawed: Nishan de Mel

by |13 December 202121 December 2021|Verité in the News

Published on The Morning The Budget for the fiscal year 2022, which was passed with a majority of 93 votes at its third reading in Parliament, is flawed, pointed out Colombo-based think tank Verité Research Executive Director Nishan de Mel....

Govt. Urged to Initiate Groundwork for Debt Restructuring as Plan B

by |09 December 202110 December 2021|Verité in the News

Published on Daily Mirror Verite Research ED Dr. Nishan de Mel says SL will be in deeper crisis if govt. waits longer for Plan B Says govt.’s Plan A would push SL to sell or forfeit enormously valuable national assets...

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