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There are two measures of the degree of urbanization of a population. The first, urban population, describes the percentage of the total population living in urban areas , as defined by the country. The second measure, rate of urbanization, describes the projected average rate of change of the size of the urban population over the given period ...
The economy rebounded in 1997–98 with a growth of 6.4% and 4.7% – but slowed to 3.7% in 1999. For the next round of reforms, the central bank of Sri Lanka recommends that Colombo expand market mechanisms in nonplantation agriculture, dismantle the government's monopoly on wheat imports, and promote more competition in the financial sector ...
Colombo, the financial centre of Sri Lanka. The mixed economy of Sri Lanka was worth 27.60 LKR trillion ($84 billion) by gross domestic product (GDP) in 2023 [146] and $318 billion by purchasing power parity (PPP). [147] The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers.
The urban poor hold jobs that are labour demanding, thus affecting their health conditions. Therefore, the urban poor are in a difficult situation to escape poverty. [23] Recent population growth has contributed to an escalating poverty rate in Bangladesh, with the country experiencing a yearly increase of 1 million people. [24]
On 6 June 1997, a new sub-regional grouping was formed in Bangkok under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation). [12] [13] Following the inclusion of Myanmar on 22 December 1997 during a special Ministerial Meeting in Bangkok, the Group was renamed 'BIMST-EC' (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation).
Housing Development Finance Corporation Bank of Sri Lanka (HDFC) National Savings Bank; Regional Development Bank (Pradheshiya Sanwardhana Bank) Sanasa Development Bank; Sri Lanka Savings Bank; State Mortgage and Investment Bank; Source: Central Bank, September 2020 [2]
The Sri Lankan banking industry was changed during the late 1980s with the introduction of automation by private banking corporations. [10] Previously, few foreign banks were operating within Sri Lanka with few branches such as Hongkong and Shanghai Banking Corporation, etc. HSBC was using interactive electronic customer interfaces such as automated teller machines (ATMs).
Sri Lanka, however, has been leading the region in HDI with per capita GDP well ahead of India, Pakistan, and Bangladesh. Sri Lanka has a multi-party system, and the political situation in Sri Lanka has been dominated by an increasingly assertive ideology of Sinhalese nationalism. Bangladesh is a unitary parliamentary republic.