Citi forum themed “Sri Lankan Economy Onwards and Upwards”

Citi recently brought together its key clients and hosted an economic forum themed “Sri Lankan Economy Onwards and Upwards”. The Governor, Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe and Secretary to the Treasury Mr. Mahinda Siriwardana, Ministry of Finance were in attendance as the keynote speakers. The sessions covered insights on Sri Lanka’s Macroeconomic Developments and way forward, the bank said in a media release.

Dr. Weerasinghe elaborated on the underlined challenges navigated during the last two years that led towards the current sustained economic transformation surpassing IMF targets. Further he added, “Downwards Yield curve, currency appreciation and most importantly averting a banking crisis are some of the key results achieved during this short period”. He said they were confident in achieving IMF targets with no deviation to existing plans.

Mr. Siriwardana spoke of the unprecedented and deepest crisis faced by Sri Lanka since post-independence and highlighted that the macro-economic, fiscal and monetary policy reforms initiated by the Government supported by the IMF programme led the country towards the road to recovery experienced today. However, as a nation he reiterated that many in society have forgotten or chosen to forget the extreme difficult times the country was faced with and it is paramount that everyone in the country needs to cooperate to ensure a resilient, socially inclusive and stabilized economy in the future.

Citi Markets Head, Saneth Gamage said, “Careful navigation and consistent policies will help in achieving the expected economic recovery. As a trusted advisor, we at Citi are committed to bringing global best practices for supporting the country’s current framework on good governance, and policy initiatives for economic recovery.”