Av­enues for In­vest­ment

Southasia - - Briefing -

World Bank Man­ag­ing Di­rec­tor, Sri Mulyani In­drawati re­cently vis­ited Sri Lanka and met with Pres­i­dent Mahinda Ra­japaksa and se­nior government of­fi­cials to dis­cuss is­sues of fis­cal growth and pri­vate sec­tor in- vest­ment. An­a­lysts view In­drawati’s rare visit as a win­dow op­por­tu­nity for cre­at­ing a sus­tain­able eco­nomic cli­mate in Sri Lanka. Lately, debt ex­po­sure and the bud­get deficit has plunged Sri Lanka into a cri­sis while the on­go­ing impeachment of the Chief Jus­tice has in­creased eco­nomic in­se­cu­rity. In­drawati’s visit comes at a time when the coun­try is on the road to eco­nomic re­cov­ery fol­low­ing the de­feat of Tamil forces af­ter a three-decade long civil war, in 2009.

Dur­ing the meet­ing, In­drawati stressed the need for Sri Lanka to im­ple­ment con­sis­tent poli­cies to at­tract for­eign di­rect in­vest­ment (FDI) and pro­vide as­sur­ances that the coun­try could main­tain a steady fis­cal po­si­tion with in­vest­ments flow­ing in from the pri­vate sec­tor. She sug­gested that Sri Lanka re­vive its in­dus­tries and learn from the mis­takes of its South Asian neigh­bors to fol­low a planned strat­egy to at­tract FDI. More­over, the World Bank di­rec­tor dis­cussed Sri Lanka’s debt port­fo­lio be­cause the coun­try re­lies heav­ily on bor­row­ings from China. She was con­fi­dent that th­ese loans pose no threat to the Sri Lankan econ­omy while it fol­lows trans­parency in the sys­tem.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.