Asia Pacific round-up: Sri Lanka plans ‘big bang’ reforms, and more

21 Aug 15

A round-up of recent public finance stories from the Asia Pacific you might have missed.

Sri Lanka plans ‘big bang’ reforms

Sri Lanka’s incoming government plans to push forward with a range of “big bang” reforms to open up its financial system and liberalise the rupee after triumphing in Monday’s general election, the country’s central bank governor has said. (Financial Times)

Bangladesh and India plan joint drive against currency counterfeiters

Bangladesh and India are planning to carry out a joint drive against currency counterfeiters and smugglers once both countries prepare and share respective criminal databases. (Dhaka Tribune)

Malaysia won’t peg currency or impose capital controls, says PM

Prime Minister Najib Razak insisted on Thursday that Malaysia will neither impose capital control on its economy nor peg the ringgit to the U.S. dollar, despite the weakening currency and shrinking foreign reserves. (Anadolu Agency)

Kazakhstan’s currency loses a quarter of its value

The oil price crash has claimed another victim. Kazakhstan’s currency, the tenge, plunged an incredible 23% on Thursday after the government allowed it to float freely. (CNN Money)

Australia’s economy not shrinking – so why does it feel like we're in a recession?

ANALYSIS: Employment may be growing stronger than it has for a number of years but people feel neither confidence in the economy nor joy at the news about employment growth. It’s hardly a surprise: wages and household income are growing at levels that would normally be associated with a recession. (The Guardian)

New Zealand “may be headed for recession”   

New Zealand may be heading for a recession. That's the verdict from Credit Suisse analyst Chris Green, who said crashing dairy prices and shaky Chinese economic growth have pushed the country close to a recession. (Business Spectator)

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