Wednesday, June 29, 2022

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PM Wickremesinghe points out need to make policy decisions based on export oriented economy

Prime Minister Ranil Wickremesinghe has pointed out the need to make policy decisions based on an export oriented economy. Only these policies can assist the export industry overcome the current economic crisis facing the country.

The Prime Minister made this statement when he met the heads of banks this morning (26).

The Prime Minister pointed out that there are many challenges to be faced in the future, both locally and abroad.

About seventy countries are facing difficulties in the current global crisis. Mr. Wickremesinghe said that Sri Lanka is ranked first amongst those countries. There is a high risk of rising international interest rates. The danger of rising international food prices is also being observed at this moment. However, the Prime Minister explained that Sri Lanka has a small window in which if the correct policies are taken we can reduce the impact.

The Central Bank said it would be difficult to find a definitive solution to these problems until an agreement was reached with the International Monetary Fund.
The focus was on providing loan deferral relief based on the needs of essential customers.

The Governor of the Central Bank and a number of local and foreign bankers joined the discussion with Prime Minister Ranil Wickremesinghe.

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