An Ex-Marxist Is Taking Risks to Reshape Sri Lanka
Last week, regulators in cash-strapped Sri Lanka raised power prices by 15%. President Anura Dissanayake, who during his successful election campaign last year promised to lower the cost of electricity by a third, had to explain his U-turn. The treasury could no longer afford to subsidize power, he said.
Seven months into his term, the former radical has realized that keeping his country from one more crisis requires him to break promises and lose friends.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
26 minutes ago
- Bloomberg
RBI Opted For Outsized Rate Cut to Boost Growth, Minutes Show
India's central bank governor said that front-loaded interest rate cut and the cash boost would support the Indian economy amid global uncertainties, minutes of the central bank's monetary policy meeting showed Friday. The Reserve Bank of India's rate-setting panel delivered an out-sized 50 basis points interest rate cut earlier this month and announced a liquidity measures for the banking system. The six-member monetary policy committee also simultaneously shifted its policy stance to neutral from accommodative, indicating limited room for further easing.
Bloomberg
30 minutes ago
- Bloomberg
Electricity Is the New Eggs in a Power-Hungry US
Utility bills jumped 4.5% in the past year, almost double the gains for the broader consumer price index. By Save Welcome to our guide to the commodities markets powering the global economy. Today, reporter Josh Saul looks at surging utility bills for US consumers. If Americans thought eggs were expensive, wait until they open their electricity bills.
Bloomberg
30 minutes ago
- Bloomberg
Sugar Jumps From 4-Year Low on Pakistan's Plans to Import
Raw sugar futures rebounded from a four-year low in New York after Pakistan initiated plans to import the sweetener to tame high domestic prices. The most-active contract rose as much as 2.6% to 16.73 cents a pound. Pakistan's government will seek cabinet approval to import 250,000 tons of raw sugar, according to a statement issued by the deputy prime minister's office.
