The signing of US$ 200 million currency swap arrangement with Bangladesh has sparked a discussion both in local and regional contexts. On the one hand, it exposed the depth of Sri Lanka’s foreign exchange crisis. On the other hand, it is an instance showcasing the rise of Bangladesh as an emerging economic power in the region.
Internationally, Bangladesh is portrayed in positive light over its achievement as a relatively young nation which celebrated its golden jubilee of independence this year. Born as a country of food deficit, it has emerged today as a country of food surplus. Today, it is among the top ten in the world in 13 sectors. It is fourth in the rice production, first in Hilsa fish production, second in readymade garments, eighth in remittances, third in vegetables, sixth in potatoes, eighth in mangoes, second in jackfruit and second in goats’ milk, third in freshwater fish, and second in outsourcing.
Still a least developed country, Bangladesh has come up a long way to become a country of reckoning. It is now well-positioned to play a dynamic role in regional connectivity. Its foreign reserves stand at nearly US $ 45 billion, mainly thanks to remittances from its expatriate workers. But, it is as low as US $ 4 billion in Sri Lanka. Sri Lanka’s scramble for US dollars is well understood under these circumstances as a country with a huge bill for debt servicing.
After the signing of the currency swap, the Sri Lankan government has been made the subject of humiliation and vilification by its political opposition in the country over the present foreign exchange crisis. The depth of the crisis is now exposed to the country. The opposition has seized the opportunity to pummel the government, mainly on social media platforms.
Esta historia es de la edición June 04, 2021 de Daily Mirror - Sri Lanka.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 04, 2021 de Daily Mirror - Sri Lanka.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
I Request UNPers To Vote At This Election And Save The Country And The Party
Wrong doers are being turned innocent by manipulating the law under this regime
Ecuador Declares Emergency In Prisons -116 Inmates Killed
Ecuador President Guillermo Lasso imposed a state of emergency on the prison system, after deadly clashes among gang members in a coastal prison killed at least 116 people.
Implications Of Covid-19 On Pregnant Mothers
The daily surge in Covid-19 figures presents pregnant women and their families with additional uncertainty.
Sri Lanka And Bangladesh Meet In Saff Curtain Raiser Today
Sri Lanka and Bangladesh will clash in the curtain raiser match of the SAFF Football Tournament at the Maldives National Stadium in Male, today.
The Taliban And The UN's Democracy Dilemma
The United Nations is often derided as a talk shop.
How to restore loss of smell, taste after COVID-19
As the COVID-19 pandemic spread around the world anosmia and dysgeusia were quickly recognised as two of the key presenting symptoms.
JAFFNA STALLIONS OWNERSHIP GROUP HIT BACK AFTER REMOVAL
Say they signed a term sheet to continue as Jaffna franchise owners | Refute reasons given by IPG for ineligibility
German parties proceed to first coalition talks after polls
BERLIN (DPA), 29 SEPT, 2021 - The parties hoping to be part of Germany’s first government in 16 years without Angela Merkel as chancellor have taken their first steps towards coalition talks, with the country’s political future still in the balance.
Russia threatens YouTube ban after German RT outlet blocked
MOSCOW (DPA), 29 SEPT, 2021 - Moscow threatened on Wednesday to block the YouTube video platform after the internet media firm removed the German-language channels of Russia’s RT state media outlet.
Sri Lankan Footballers out to end 26-year long wait
Sri Lanka will look to end a 26-year-old hoodoo when they compete in the South Asian Football Federation (SAFF) Championship in the Maldives from October 1 to 16.