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Factum Perspective: Breaking down The Pandora Papers

International DevelopmentOctober 11, 2021743Views 0Likes 0Comments

By Chamara Sumanapala Before October 3 this year, most of us had heard about only one Pandora. The Greek mythology character that opened up a box and released all the vices that are present in the society. On October 3, another Pandora made headlines – a collection of documents carrying financial details named “Pandora…

Factum Perspective: Why are foreign exchange reserves important for an economy?

Health and Economic Cooperation, International DevelopmentSeptember 19, 2021988Views 0Likes 0Comments

By Dr R.H. S. Samaratunga Discussions about Sri Lanka’s foreign exchange (Forex) reserves have made headlines in the past few months. What are foreign currency reserves and how does a country benefit from maintaining good forex reserves? Forex reserves areforeign-currency deposits held by country’s central banks and/or monetary authorities. It also includes gold reserves, Special Drawing Rights (SDRs) and International Monetary…