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ElaKiri Talk!
What Would a Sovereign Debt Restructuring Look Like for Sri Lanka?
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<blockquote data-quote="imhotep" data-source="post: 27588740" data-attributes="member: 562115"><p>I am not a financial expert... but things don't look good. Cabraal went on printing money like leaflets. It's probably because of the politicians. In any case he doesn't seem to understand the monetary aggregates and acted irresponsibly.</p><p>What'll happen to the rupee largely depends on the help that we get from the IMF. The future of the rupee or the banking system itself is questionable.</p><p>Even the funds held in say NRFC accounts cannot be guaranteed. Only those accounts in a foreign bank operating in SL but domiciled in the UK or USA would probably be safe.</p><p>Someone with proper financial know-how could answer....</p></blockquote><p></p>
[QUOTE="imhotep, post: 27588740, member: 562115"] I am not a financial expert... but things don't look good. Cabraal went on printing money like leaflets. It's probably because of the politicians. In any case he doesn't seem to understand the monetary aggregates and acted irresponsibly. What'll happen to the rupee largely depends on the help that we get from the IMF. The future of the rupee or the banking system itself is questionable. Even the funds held in say NRFC accounts cannot be guaranteed. Only those accounts in a foreign bank operating in SL but domiciled in the UK or USA would probably be safe. Someone with proper financial know-how could answer.... [/QUOTE]
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