Sri Lanka News Updates with Discussions

to incite followers to attack the nearby 186-year-old Buhari Mosque belonging to the Sufi sect, where there was a month long feast, which itself had been held for more than 130 years.

Can you tell me, Did you make any attmept to develop trade in Sri Lanka and Trade between SL and SA with yoour expertise ?

Are you still on the notion that SL=Zim?

How about you?

ECONOMY
GDP: 1.3 bn USD (2009 estimate)
GDP growth: -1.3% (2009 estimate)
Inflation: Major Industries: Agriculture, mining.
Major trading partners: South Africa, China.

In spite of having once had a well-developed infrastructure and financial systems, Zimbabwe's economy declined rapidly from the late 1990s as a direct result of the poor governance of the Mugabe regime. GDP fell by half from 1998 to 2008. However, since the formation of the Inclusive Government and the appointment of Tendai Biti as Minister of Finance, there has been a significant reversal of the relentless economic decline that had marked the previous decade. Budget revenue increased from $133 million in 2008 to $975 million in 2009. Donors gave $670 million in aid in 2008 and $650 in 2009.

However, serious economic problems remain. Electricity is severely restricted and there are frequent water shortages. Official unemployment is over 90%. Life expectancy at 37 for men and 34 for women - is the lowest in the world. HIV/AIDS kills an average of 50 people a day. Agriculture is the most important sector of the economy, but has been severely disrupted by land resettlement. Agricultural production has shrunk by over 50% since 1996 and there was no commercial grain crop in 2009. Violent farm invasions continue while part of the population still receives food aid. This has led to a collapse in investor confidence and the flight of capital. Although discussions continue over implementation, the gazetting of the Indigenisation Bill in February 2010, which requires all enterprises in Zimbabwe worth more than $500,000 to move to 51% ownership by indigenous Zimbabweans within five years, has created a further serious impediment to attracting or retaining investment.

In February 2010 the IMF restored Zimbabwe s voting and related rights, and its eligibility to use resources from the IMF s General Resources Account (GRA), following a request from Zimbabwe s Finance Minister Tendai Biti.

Zimbabwe does not receive loans from the IMF or World Bank because of its failure to repay arrears to both institutions. However, an IMF mission visited Zimbabwe in 2009 following the creation of the inclusive government and discussions are continuing, particularly on technical assistance

I give few pennies to my relatives, that is some foreign exchange to SL.

1 Canadian dollar = 109.634743 Sri Lankan rupees

I have asked my relatives to use the devidends.

:( sad to see comments like this down grading ones own family... it only goes to show ones character!

:( sad to see comments like this down grading ones own family... it only goes to show ones character!