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Sri Lanka: A dream of becoming India’s Hong Kong

YOU are saying....

Mukti Bahini, LTTE, BLA, TTP... list of Indian sponsored terrorist proxies is very long and is older than half a century.

As wrote, you might have short term memory, but victims of your terror won't forget it that easy...
 
Mukti Bahini, LTTE, BLA, TTP... list of Indian sponsored terrorist proxies is very long and is older than half a century.

As wrote, you might have short term memory, but victims of your terror won't forget it that easy...

your country is in a mess and no beacon of economic development, least you can do is stay away from countries that are trying to grow, you know keep your bad influence off them.
 
CIFC will cover financial activities in the South Asian region. The CIFC will have its own laws similar to the DIFC acting as an offsore financial center. CIFC is also larger than the DIFC and has more space than the previous Port City due to the SEIA finding and removing environmentally unfriendly projects like f1 tracks and also finding out that certain areas can be extended without negative env effects.

CIFC itself is a part of a bigger project which inculdes Losgistics zones ,Science and Technology and Industrial Zones.
https://en.wikipedia.org/wiki/Western_Region_Megapolis

It is also right next to the Central Business District and the Light Rail system is expected to be expanded to the CIFC after its built

How the hell F1 Track would upset the ecological balance of the vicinity? Before the new government came to power, you people were ranting about the ecological damage this project will bring to the Western sea board. How have the new CFIC managed to change that damage without doing a considerable change to the overall plan? Just simply explain that.
 
Indian sponsored cross-border terrorism in Sri Lanka for decades has pushed back this country quite a bit.

But I am very happy to see the country rising again. Sri Lanks should aim for something like Singapur and I am quite sure they can do it.

Good luck and all the good wishes from your Pakistani friends!

Only the Indians wish for Sri Lanka to be their Hong Kong. Such imperialists attitude knows no shame.
 
Sri Lanka never dreamt or even thought of becoming "India's Hong Kong". Sri Lanka wants Colombo City to become a financial hub to region the closest example is Singapore and Dubai. At least get a better title
yea get a better title BTW what happened to hambantotta , /> ?????
 
A single SEZ well developed will have more revenue than your entire fishing industry. You wanna know why India is so lethargic? Because the officials really think this is a waste of their time. oh wait- no- according to you there is a major conspiracy to screw SL fishermen out of their produce. What kind of a blessing China is will come out alright- for you in Hambentota and Pak in CPEC.

Indian companies can't even complete a building in Colombo and you're talking about a well developed SEZ? What a joke. None of this excuses Indian thievery and plunder of Sri Lankan resources. If you don't believe in borders open your borders to Pakistan, Bangladesh and China. Let their fishermen plunder your seas. The only reason India gives a rats a$$ about anyone else is because of China and its growing influence not only in the region but in the world.
 
your country is in a mess and no beacon of economic development, least you can do is stay away from countries that are trying to grow, you know keep your bad influence off them.

Have you been watching the news from India in the last 24 hours? LOL! We are not the mess, it is India that is going kamikaze. Why do you treat everyone as if they are stupid? Too much arrogance is an ugly thing.
 
For all of Sri lanka's posturing , the country is growing pretty slow, at least much slower than what I would expect of its potential. ...I am not sure if its because of the current government in Sri or anything , but neighbouring Tamil Nadu has been growing 2.5-3 percentage points higher almost every year than sri lanka over the past 5 years ....and if Sri lanka doesnt up its growth , in all the probability , TN will take over Sri lanka in per capita income over the next 10 years or so ( which is not a pretty sight to behold, considering Sri lanka's population is 1/4th the size of Tamil Nadu's)
 
For all of Sri lanka's posturing , the country is growing pretty slow, at least much slower than what I would expect of its potential. ...I am not sure if its because of the current government in Sri or anything , but neighbouring Tamil Nadu has been growing 2.5-3 percentage points higher almost every year than sri lanka over the past 5 years ....and if Sri lanka doesnt up its growth , in all the probability , TN will take over Sri lanka in per capita income over the next 10 years or so ( which is not a pretty sight to behold, considering Sri lanka's population is 1/4th the size of Tamil Nadu's)

In 10 years, Tamil Nadu could be an independent country. Then their growth will be higher than that of India. It would cause other south Indian states to declare independence. The remaining North Indian state's GDP will decrease to that of Somalia.
 
For all of Sri lanka's posturing , the country is growing pretty slow, at least much slower than what I would expect of its potential. ...I am not sure if its because of the current government in Sri or anything , but neighbouring Tamil Nadu has been growing 2.5-3 percentage points higher almost every year than sri lanka over the past 5 years ....and if Sri lanka doesnt up its growth , in all the probability , TN will take over Sri lanka in per capita income over the next 10 years or so ( which is not a pretty sight to behold, considering Sri lanka's population is 1/4th the size of Tamil Nadu's)

What posturing. Sri Lanka has been destroyed by India's puppet regime.
 
Sri Lanka never dreamt or even thought of becoming "India's Hong Kong". Sri Lanka wants Colombo City to become a financial hub to region the closest example is Singapore and Dubai. At least get a better title

fair enough
which countries belong to the region your hub wants to serve ??
 
In 10 years, Tamil Nadu could be an independent country. Then their growth will be higher than that of India. It would cause other south Indian states to declare independence. The remaining North Indian state's GDP will decrease to that of Somalia.

Nice to imagine ...but that's like saying the Pearl river delta region will gain independence from China ...lol
 
Mukti Bahini, LTTE, BLA, TTP... list of Indian sponsored terrorist proxies is very long and is older than half a century.

As wrote, you might have short term memory, but victims of your terror won't forget it that easy...

India also funded Eelam People's Revolutionary Liberation Front (EPRLF) another organization that had the same ideology as the LTTE after India lost control of the LTTE. The EPRLF is not widely known as their military wing was wiped out and they later entered politics
 
For all of Sri lanka's posturing , the country is growing pretty slow, at least much slower than what I would expect of its potential. ...I am not sure if its because of the current government in Sri or anything , but neighbouring Tamil Nadu has been growing 2.5-3 percentage points higher almost every year than sri lanka over the past 5 years ....and if Sri lanka doesnt up its growth , in all the probability , TN will take over Sri lanka in per capita income over the next 10 years or so ( which is not a pretty sight to behold, considering Sri lanka's population is 1/4th the size of Tamil Nadu's)

Thats becuase of Rajapaksas messing up statistics instead of actually working to increase economic growth.
If rajapaksa's didn't lie about 7% Growth using 2002 as a base year to caluculated economic growh then things would have been easier. The current government changed the based year to 2010 and are working to reform the economy and rebuild what the Rajapaksa's destroyed.
Sri Lanka's tax revenue has gone up and the economy is now stronger compared to the extremely fagile economy we had before 2015


We are currently in discussions with TPG for a billion dollar deal to takeover the management of the UL and reform it as Rajapaksa's brother in law looted and destroyed it.

In fact Sri Lanka's Industrial and Service sectors have started to grow really fast now and the economic growth is onlu dragged back by negative growth in Agricultural sector due to Floods and droughts

The full statement follows:

Fitch Ratings-Hong Kong-09 February 2017: Fitch Ratings has affirmed Sri Lanka's Long-Term Foreign- and Local Currency Issuer Default Ratings (IDR) at 'B+' and revised the Outlook to Stable from Negative. The Country Ceiling and issue ratings on Sri Lanka's senior unsecured foreign- and local-currency bonds are also affirmed at 'B+'. The Short-Term Foreign- and Local-Currency IDRs are affirmed at 'B'.

KEY RATING DRIVERS

Sri Lanka's 'B+' rating balances its weak public finances and strained external liquidity position compared with peers against the steady progress made on the country's ongoing International Monetary Fund (IMF) supported programme, which commenced in June 2016. The IMF programme has eased near-term pressure on the balance of payments. The rating is supported by Sri Lanka's favourable growth performance as well as its basic human development indicators and governance standards, which are more favourable as compared with some peers.

The Outlook revision reflects the following key rating drivers:

Improving Fiscal Finances: Fitch estimates that Sri Lanka's 2016 fiscal performance was better than in 2015, following strong revenue growth that was supported by a value-added tax (VAT) hike. This, along with lower government spending, should narrow the deficit in 2016 to around -5.6% of GDP, from -7.4% in 2015. Fitch believes the 2016 VAT hike to 15% from 11% and other revenue reforms announced in the 2017 budget are likely to support further fiscal deficit reductions in 2017, with the agency revising down its 2017 deficit forecast to -4.7% of GDP against its earlier estimate of close to -7%. The authorities' 2017 deficit estimate of -4.6% is below the agency's estimate, as the authorities have higher growth assumptions. However, Fitch expects authorities to lower spending if there is a large revenue shortfall to keep the fiscal deficit under control.

Improved Policy Coherence and Credibility: Sri Lanka's three-year extended fund facility with the IMF has improved policy coherence and credibility and has eased some near-term balance of payments pressure. Fitch expects the country's external funding profile to benefit from support by multilateral agencies, although its external liquidity position remains weak compared with peers. The IMF-supported programme sets ambitious fiscal targets and the authorities have made steady progress, meeting their quantitative performance targets for the first review in November 2016. Progress on some structural benchmarks has also been made, including passage of the 2017 budget in line with programme targets.

Stable Growth Trends: Sri Lanka's growth performance remains favourable. Fitch estimates the country's five-year (2012-2016) average real GDP growth at 5.3%, which is stronger than some of its 'B' category peers. However, Fitch has revised its 2016 growth estimate to around 4.5%, from 5.3% (forecast at the time of the last review) due to weaker-than-expected 1H16 growth caused by the May 2016 floods. Furthermore, the Central Bank of Sri Lanka hiked-up interest rates twice in 2016 by a cumulative 100bp, slowing credit growth and private consumption, although this has also improved macro stability.

Sri Lanka's 'B+' IDRs reflect the following key rating drivers:

Relatively High Government Debt: Fitch estimates overall gross general government debt to have reached close to 77% of GDP by end-2016, although it should gradually decline over 2017-2018 due to improving government revenues. At this level, government debt remains above the 56% 'B' median and 51% 'BB' median. Further, foreign-currency debt - which is close to 40% of GDP - weakens Sri Lanka's fiscal finances, as it increases the risk of higher debt in local currency terms if the rupee depreciates sharply.

Weak External Liquidity Position: Sri Lanka's external liquidity position is weakened by low foreign-exchange reserves and high external debt service payments. Measured by Fitch's external liquidity metric, this ratio is far below the 'B' and 'BB' median. As per the agency's estimate, the external liquidity ratio was close to 58% at end-2016, against around 163% for the 'B' median and 155% for the 'BB' median. Furthermore, Sri Lanka's external finances are vulnerable to a sell-off in treasury bills and bonds by foreign investors, which currently account for nearly 30% of foreign-exchange reserves. Outflows from treasury bills and bonds in October and November 2016 led to a fall in foreign-exchange reserves, although the reserves improved by around USD419m from end-November 2016 to around USD6bn by end-2016.

Strong Human Development Indicators: Sri Lanka's basic human development, including education, health and literacy standards, is high compared with the 'B' and 'BB' median, as indicated by a favourable United Nations Human Development Index score. The country also ranks better than the 'B' median on the World Bank's composite governance indicator score - falling in the 48th percentile against the 31st percentile of the 'B' median.

SOVEREIGN RATING MODEL and QUALITATIVE OVERLAY

Fitch's proprietary sovereign rating model (SRM) assigns Sri Lanka a score equivalent to a rating of 'BB-' on the Long-term Foreign-Currency IDR scale.

Fitch's sovereign rating committee adjusted the output from the SRM to arrive at the final Long-Term Foreign-Currency IDR by applying its qualitative overlay (QO), relative to rated peers, as follows:

- Public Finances: -1 notch to reflect Sri Lanka's weak fiscal position on account of high government debt and interest payments as a share of government revenue.

Fitch's SRM is the agency's proprietary multiple regression rating model that employs 18 variables based on three-year centred averages, including one year of forecasts, to produce a score equivalent to a Long-Term Foreign-Currency IDR. Fitch's QO is a forward-looking qualitative framework designed to allow for adjustment to the SRM output to assign the final rating, reflecting factors within our criteria that are not fully quantifiable and/or not fully reflected in the SRM.

RATING SENSITIVITIES

The Stable Outlook reflects Fitch's assessment that upside and downside risks to the rating are balanced.

The main factors that, individually or collectively, could trigger positive rating action are:

-Continued improvement in public finances underpinned by a credible medium-term fiscal strategy, including a broadening of the government revenue base.

- Increase in foreign-exchange reserves supported by smaller current-account deficits and higher non-debt capital inflows.

The main factors that, individually or collectively, could trigger negative rating action are:

- Deterioration in policy coherence and credibility, leading to a loss of investor confidence, or a derailment of the International Monetary Fund supported programme that leads to external funding stress.

- Reversal of fiscal improvements that leads to a failure to stabilise government debt ratios.

KEY ASSUMPTIONS

Global economic assumptions are consistent with Fitch's latest global economic outlook.
(COLOMBO, Feb 09 2017)

http://www.economynext.com/Fitch_co...ting,_outlook_revised_to_stable-3-7289-1.html
 
India also funded Eelam People's Revolutionary Liberation Front (EPRLF) another organization that had the same ideology as the LTTE after India lost control of the LTTE. The EPRLF is not widely known as their military wing was wiped out and they later entered politics

This is so unfortunate bro, that this country called "India" always whining about terrorism is actually the biggest exporter of cross-border terrorism in the region.

I just hope one day this country realizes this destructive policy will come back to haunt her badly.
 

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