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BBC: Ajith Nivard Cabraal, the Governor of the Central Bank of Sri Lanka, has good reason to be pleased.
The bank has achieved much in recent years. Inflation is coming down and is below 5 percent. Interest rates are lower too. Foreign exchange reserves have never been higher, and gross domestic product (GDP) growth has averaged between 7 percent and 8 percent over the last three years.
And yet foreign direct investment (FDI) lags. Last year the government had hoped for some US $ 2 billion (£ 1.2 billion) in FDI. It got US $ 1.3 billion.
That is why Cabraal is on a mission to market the country to international investors.
On a recent trip to London, accompanied by a delegation of officials and business representatives, he was prepared for questions on human rights to come up.
They nearly always do, but he played it down: “There are a few who have asked the question - but not all. And every time they have asked the question we have explained to them in detail what is taking place and they have been satisfied with our answers.”
http://www.dailymirror.lk/business/features/47978-sri-lanka-tries-to-dispel-shadow-of-war-clouding-its-economy.html
The bank has achieved much in recent years. Inflation is coming down and is below 5 percent. Interest rates are lower too. Foreign exchange reserves have never been higher, and gross domestic product (GDP) growth has averaged between 7 percent and 8 percent over the last three years.
And yet foreign direct investment (FDI) lags. Last year the government had hoped for some US $ 2 billion (£ 1.2 billion) in FDI. It got US $ 1.3 billion.
That is why Cabraal is on a mission to market the country to international investors.
On a recent trip to London, accompanied by a delegation of officials and business representatives, he was prepared for questions on human rights to come up.
They nearly always do, but he played it down: “There are a few who have asked the question - but not all. And every time they have asked the question we have explained to them in detail what is taking place and they have been satisfied with our answers.”
http://www.dailymirror.lk/business/features/47978-sri-lanka-tries-to-dispel-shadow-of-war-clouding-its-economy.html
