The Embassy of the People's Republic of China in Sri Lanka recognized the Pathfinder Foundation as one of its top 10 partners at a ceremony to mark Chinese New Year and Sri Lanka's National Day held at the BMICH on Friday 17th January. President Mahinda Rajapaksa, Prime Minister D.M Jayaratne, Minister of Health Maithreepala Sirisena, Minister of External Affairs G.L Peiris and Secretary to the President Lalith Weeratunga were among those present at this ceremony. Here Chinese Ambassador Wu Jianghao presents the top 10 partners award to Mr. Milinda Moragoda, Founder of the Pathfinder Foundation.
Category: Economic Flash Published on Tuesday, 03 March 2015 14:46
The IMF tends to be the refuge of countries that have mismanaged their economic affairs. In this context, it is important to recall that Sri Lanka has had to obtain balance of payments support from the IMF on a number of occasions. Each time, the causes have had more to do with domestic policy weakness rather than external shocks. On previous occasions, IMF support, combined with the assistance of the donor community, has enabled Sri Lanka to get over its problems without undertaking the necessary economic reforms, particularly in relation to the budget and to structural weaknesses related to low productivity and competitiveness. It is important that this should not happen yet again. It is the responsibility of both the Sri Lankan authorities and multilateral institutions to ensure that the country embarks upon a medium-term program of reforms which increases the growth potential of the economy and generates higher value employment. Some critics allege that the Fund and the Bank apply lenient conditionality when new governments of their liking are in power. Nevertheless as final outcomes of direct or indirect incentivising of the adoption of bad economic policies and neglecting fundamental economic reforms, countries have been trapped into vicious cycles of stop-go policies.
Last Updated on Tuesday, 03 March 2015 14:46
Category: Economic Flash Published on Tuesday, 17 February 2015 19:53
President Sirisena’s meeting with Prime Minister Modi, in Delhi, this week offers an opportunity to reset bilateral relations to achieve the declared goal of ‘irreversible excellence’. This important visit affords an opportunity to look back at the Joint Statement which was issued after Prime Minister Ranil Wickramasinghe’s discussion with the then Prime Minister of India, Atal Bihari Vajpayee, in October 2003. Many of the elements of that Joint Statement are relevant even today.
Last Updated on Tuesday, 17 February 2015 19:53
Category: Economic Flash Published on Tuesday, 17 February 2015 18:53
Sri Lanka’s ranking in the World Bank’s Doing Business Index (DBI) 2015 has improved to 99 (out of 189 countries) from 105 last year. While this seems a positive development, there are certainly no grounds for complacency. The country’s ranking has been oscillating in recent years. In addition, the improvement attained in the latest ranking is based on better performance on only two of the ten indicators contained in the DBI.
Last Updated on Tuesday, 17 February 2015 21:11