– DSSI, Common Framework and SDRs were designedto ease debt and financing concerns – $5.7bn in debt payments deferred under the DSSI last year – Critics say relief measures do not go far enough and have recommendeddebt cancellation – Calls fordeveloped countries to pass on their SDR allocations to emerging markets The economic fallout of the Covid-19 pandemic has led…
Recovery prospects and external financing options From where can Sri Lanka secure external financing to fund the country’s Covid-19 mitigation and recovery strategies, and which industries are best placed to act as growth engines of the economy in the recovery phase? DILSHAN WIRASEKARA: It would be difficult for Sri Lanka to raise funds through sovereign bonds at current international…
On changing entertainment consumption patterns amid the Covid-19 pandemic As social-distancing measures lead to increased demand for home entertainment, what strategies can be employed to increase penetration in a sustainable manner? MARC BARNETT: This situation is bigger than our internal business metrics, and I think we have a responsibility and an opportunity to help people through a difficult…
Oxford Business Group (OBG) began its CEO Survey in 2016 with the aim of giving our clients a handle on sentiment in the various markets we cover. Sentiment is of course intangible, but it is an all-important factor in the decisions business people and investors make when they weigh up their risk appetite. In turn, sentiment informs the level of confidence with which they view a market. It is also…
On reaching sustainable development goals To what extent are sustainability goals tied to the success of a business? ROBERT OPP: Sustainability does not necessarily contrast with long-term profit; however, the UN’s Sustainable Development Goals (SDGs) have provided a global framework to address this significant challenge. The SDGs are different from anything I have seen in the past. There…
On how conventional banks are integrating digital solutions How would you assess the potential of digital banking to boost financial inclusion in developing economies? MICHEAL GORRIZ: In Africa, where Standard Chartered opened eight digital banks in 2018-19, the cost to serve is a crucial determining factor when offering banking services. A large part of the continent is underbanked primarily…
As part of efforts to stimulate the economy, the Central Bank of Sri Lanka has taken the unprecedented step of ordering lenders to reduce their interest rates. On September 24 the institution’s Monetary Board, the country’s primary financial regulator, announced that all commercial banks were to reduce lending rates by a minimum of 200 basis points by October 15. In addition, as of November…
On how the city-state is positioning itself as a door to South-east Asia and a hub for cross-border collaboration What advantages does Singapore offer tech companies seeking a springboard into ASEAN? PETER ONG: Innovation in South-east Asia is at an inflection point. The average age of the region’s 640m-strong population is 30, and a growing level of consumption power characterises…
The Central Bank of Sri Lanka (CBSL) has sought to stimulate a rebound in the economy by cutting domestic interest rates, following a slowdown linked to the Easter terrorist attacks. At its meeting on May 30, the CBSL’s Monetary Board cut its benchmark rate by 50 basis points, to 7.5%. It also cut the standard lending facility rate offered to commercial lenders by 50 basis points, to 8.5%. The…