In this issue

It’s counterintuitive, but low inflation, like in Sri Lanka now, has the effect of worsening a debt crisis. A country where prices are rising fast will also inflate away its local currency debt. Inflation is terrible for people, and for lenders. But for a borrower in a debt crisis, it has the opposite effect.

One reason for Sri Lanka’s relative debt level to decline in the few years to 2013 was high inflation. The second reason for that fall is the brief spurt of high GDP growth in the three years immediately after the conflict ended.

There is a third reason why the debt-to-GDP ratio is growing, which is also somewhat invisible. More than half of Sri Lanka’s debt is foreign currency debt. When the Rupee depreciated by 15% to the dollar in 2018, the local currency value of the foreign debt increased by that amount. Sri Lanka borrows at around 6.5% in international markets, but depreciation adds that much more to the outstanding debt stock and the cost.

On the economic front, low growth and high debt are Sri Lanka’s post- war challenges. That 10 years after the war’s end Sri Lanka’s downward trending economic growth is forecast to hit a record low in 2018 is ominous. Sustainable economic growth is the headline measure of a peace dividend. It’s also one that has so far eluded Sri Lanka.

Echelon Magazine Description:

Intelligent Storytelling

The one thing that will define the Echelon magazine will be the quality of the storytelling. Echelon,published monthly, will cover in depth Sri Lanka’s most successful businesses, examine their winning strategiesand profile their leaders in immersive stories. Great stories are also never limited to words, and our approach includes rich photography, bold graphics and leading edge design which together will make for a compelling read.

But business doesn’t start and end in a boardroom;it extends to the golf club greens, to international travel and to pursuits that blurthe lines between commercial venture and sheer passion. The Echelon team will present the best in business and lifestyle coverage that will appeal to an exclusive and affluent readership: an otherwise hard to reach demographic.

Content will be developed by one of the most experienced and proven teams of editors, financial journalists, photographers and designers in the country.This team has already raised the bar for powerful and expertly crafted business news. Shamindra Kulamannage, will lead the editorial team.

The reputation of Echelon is being built on the separation between editorial and advertising. However we are also looking for the most creative and impactful new formats that can be applied in our magazines, iPad app as well as website to help our clients reach our audience. We are flexible and creative and we will have a solution for every single advertiser who wants to reach our audience.

We are passionate about creative results and about working with our advertisers to help them create bespoke multi platform creative solutions with our in house creative team and of course our sales team.

Echelon will be a great place to show off the products and capabilities of our clients because they will be surrounded by an editorial product that is expertly crafted, full of integrity and intelligence.