Sri Lanka has been running fiscal deficits for decades and has recorded a primary budget surplus only four times since its independence in 1948. This severe lack of fiscal discipline has been made possible by debt financing and monetary financing of government expenditure. While the Central Bank of Sri Lanka has independence to an extent, the government is able to influence monetary policy-making, which makes it harder for the bank to pull the economy out of crisis.
What emerging markets can teach about CBDC innovation By Wolfram Seidemann Emerging markets like Ghana and Eswatini are unlocking the value of central bank digital currencies, leading the way in digital payments innovation.
MEETINGS Navigating economic crisis with the State Bank of Pakistan Wednesday 1 March, Roundtable Reza Baqir, former governor of the State Bank of Pakistan, joins Mark Sobel, US chair of OMFIF, in a high-level discussion on the Pakistani economy and the policy options at their disposal.
LATEST REPORT The Bulletin, Spring 2023 This edition of the Bulletin brings together a collection of predictions for the year ahead. Covering inflation, ESG, emerging markets and reserve management, experts are cautiously optimistic about 2023.
