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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Sri Lanka tries to dispel shadow of war clouding its economy

Sri Lanka tries to dispel shadow of war clouding its economy

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Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

To revive the investment opportunities there must be an independent council ( not buying out) consists of high calibre academics ( without a single politician) who scrutinize the current environment for finding bottlenecks & making proposals to overcome dipping investors attraction.
Government is responsible for implementing such proposals (unlike LLRC report) as outlined in the report monitoring the outcome in a specified time period but keeping aside the dirtiest political advantages.

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

worthness is 100% correct


KATA KIYANNADA ?

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