7 February 2020

Biannual economic updates

After our first workshop in July of last year, on January the 16th we hosted the second biannual “Updates workshop” at the Ramada. Preceding the workshop was a special executive briefing covering the main points of the presentation on the 16th. The sessions were once again moderated by Nisthar Cassim from event partner Daily FT, with Dr Howard Nicholas presenting the two parts of the workshop on the global and Sri Lankan economies. Sponsoring both events was Allianz.

The first part started off with presenting the accelerating shift of power from the advanced countries to China and the rest of East Asia, and the ongoing deindustrialisation of the US economy. Then, particular attention was paid to the US Fed’s recent U-turn in monetary policy involving an extraordinary amount of repos conducted by the Fed since September. The first part ended with a discussion on what the presented data and information meant for the future of the Dollar.

The second part involved a revisiting of Sri Lanka’s (lacking) industrialisation policy including its implications, and the likely consequences of the deteriorating economic conditions in Europe for Sri Lanka’s tourist sector and export companies. A noteworthy finding presented was the apparent correlation between policies enacted by the US Fed and the Sri Lankan Central Bank regarding interest rates.

For a more detailed account of the presentation, as well as a video of the full workshop, visit http://www.ft.lk/.