Sri Lanka must use the next ten years to build up its external and fiscal buffers to meet future debt service obligations, Treasury Secretary Mahinda Siriwardana emphasised.
He further added that the International Monetary Fund (IMF) supported reform programme is designed, such that by end 2028, Sri Lanka’s government revenue to GDP would reach 15.4% and Gross International Reserves would have reached USD 15.1 billion. Mr Siriwardana was speaking on the subject “Sri Lanka’s Journey from Economic Stabilisation to a Sustainable Development Trajectory” at the International Conference on Sustainable Globalization (ICSG) Award Ceremony held at the Cinnamon Grand Hotel, Colombo on Saturday (11).
"If these targets are maintained, Sri Lanka will be able to meet its post restructuring debt obligations with a degree of comfort. In this context, it is critically important to understand as a nation that there is no time to be wasted. Although we have shown our resilience, working hard with a clear understanding on the path ahead, collective
action, accountability and dedication are extremely important to ensure that the Sri Lankan economy will be taken to a comfortable position during the next ten years, rather than letting it to be another “missed opportunity,"" the Treasury Secretary noted.
He pointed out that the importance of disciplined macroeconomic policy making is very evident in this context. "It is essential that Sri Lanka develops a broad political consensus on the macro-economic policy framework. This should incorporate both fiscal discipline and sound monetary management. In the recent past, we have seen the initial signs of depoliticisation of macroeconomic management – and it is important that this persists."
The economic reforms implemented during the last two and a half years have provided the economy with a foundation of stability, Mr Siriwardana said Mr Siriwardana, adding that "Sri Lanka’s transformation to a sustainable, inclusive, and digitally empowered economy represents our path to resilient growth."
Please click on the following link to read the Treasury Secretary's full speech: https://www.treasury.gov.lk/api/file/85a8602a-a416-429e-804c-5b2da9b7fc5f
My memory takes me back to 1979, to a moment etched in time when a strikingly tall and impeccably dressed military officer, a Master in charge of Cadeting at Prince of Wales College commanding a guard of honour presented to President J.R. Jayawardene by the cadets of 3CCC, consisted of Ananda, Nalanda and Prince of Wales Cadet platoons at the Prince of Wales College grounds.
An American national, who had been staying in Sri Lanka for nearly ten months without a valid visa while using a Sinhala name under his American passport, was arrested by the Tourist Police of the Kandy.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column.’’
The only orangutan held at the Dehiwala National Zoological gardens had passed away yesterday.
The Secretary of the Bodu Bala Sena Organisation Ven Galagodaatte Ganasara Thera was today imprisoned for the third time.
Leave Comments