IMF assures continued support to Sri Lanka

Friday, 12 July 2013 00:01 - - {{hitsCtrl.values.hits}}

The International Monetary Fund, while commending President Mahinda Rajapaksa for his role in developing Sri Lanka, has assured continued support to the country. Dr. Anoop Singh, International Monetary Fund’s Director for Asia and the Pacific region, who arrived in the island to participate in the Sri Lanka Economic Summit, gave this assurance when he met President Rajapaksa at Temple Trees on Wednesday evening. “You have brought Sri Lanka to a higher level of development within a short period,” said Dr. Singh. “Now it’s time to focus on

long-term economic stability.” “Sri Lanka’s economy has stabilised to a satisfactory level during the past three-four years,” responded the President. “Our problem is the high cost of fuel and negative consequences of climate change.” Recalling his visit few years ago to Sri Lanka, the IMF’s Regional Director stated there was vast improvement visible now. The Government gave priority to the development of infrastructure facilities such as road, electricity and telecommunication and the people are reaping the benefits now, the President said. As Asia is the centre of global economic growth in the 21st century, President Rajapaksa’s decision to further enhance Sri Lanka’s relationship with East Asian countries including China is a correct step, Dr. Singh added. Dr. Koshy Mathai representing the IMF and Secretary to the Treasury Dr. P. B. Jayasundera participated in the discussion.