It has been a while since I posted last but due to too many reasons I couldn't neatly find a time gap to occupy myself in writitng a note.
In the meantime many things caught my attention which I thought I should view my ideas during the last week or so. One such thing was that Fitch ratings, the international rating agency, has revised its rating on IDR of our country from 'stable' to 'negative'. This created a bad sign of cyclone in the Government officials as they denied this negative rating. The pin point was that the global crisis of credit and the lack of liquidity was creating them to spend more foreign currency than they used to! Well, they obviously have forgotten why the Central Bank of Sri Lanka is standing there.
Ultimately the current situation will create more debtto this country and the future will be more devastating than it should be. Unless the CBSL act independantly (without influence from Government that is) and with the aid of the intelectuals, this crisis should be overcome. If not the circumstances will be much more serious and ultimately the general public may be the final deprived group.
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