January 16, Colombo (LNW): The United States has expressed strong support for the Sri Lankan government’s commitment to economic reforms and anti-corruption measures under the leadership of President Anura Kumara Dissanayake.
US Ambassador to Sri Lanka, Julie Chung, praised the new administration’s dedication to stabilising the economy and ensuring transparency in governance, particularly its efforts to adhere to the International Monetary Fund (IMF) programme and finalise restructuring of international sovereign bonds.
As Sri Lanka embarks on a critical period of economic recovery, Ambassador Chung highlighted the importance of these steps in securing financial stability and laying the foundation for future growth.
“We welcome the Sri Lankan government’s commitment to remaining aligned with the IMF programme and its work towards restructuring sovereign bonds. These are pivotal moves to restore confidence in the country’s economy,” she remarked, underlining the significance of these initiatives for both domestic progress and international relations.
Ambassador Chung also emphasised that while stabilising the economy is an essential first step, the more complex challenge lies in driving long-term growth, enhancing productivity, and establishing sustainable economic practices.
The ambassador lauded the launch of the “Clean Sri Lanka” initiative, an ambitious project designed to overhaul the political and economic culture of the country, promoting transparency and accountability in all sectors.
The “Clean Sri Lanka” initiative, which aims to root out corruption and improve governance, has been recognised as a bold move towards reform. Ambassador Chung expressed optimism regarding the government’s commitment to following through with tangible actions.
These include the potential restructuring of inefficient state-owned enterprises, upholding contracts, and creating a fair playing field for foreign companies operating in Sri Lanka, free from protectionist policies.
“With the government’s focus on the ‘Clean Sri Lanka’ initiative, we look forward to seeing measurable steps towards political and economic renewal. It’s vital that state-owned enterprises are reformed, contracts are honoured, and foreign businesses are provided with equal opportunities to thrive,” added Ambassador Chung.
“As we look to the future, we must also consider the role of emerging technologies like artificial intelligence and how they will shape business opportunities in Sri Lanka.“
In addressing broader global challenges, Ambassador Chung also acknowledged the impact of external factors such as shipping delays due to Houthi attacks in the Red Sea and the economic repercussions of Russia’s invasion of Ukraine.
She stressed the importance of resilience and strategic planning in navigating these complex and often unpredictable circumstances.
The United States has continued to play a crucial role in supporting Sri Lanka’s development. Ambassador Chung pointed to ongoing US support, which includes loans through the US Development Finance Corporation to small and medium enterprises (SMEs), entrepreneurial training, and technical assistance from both the US Treasury Department and USAID. These initiatives focus on sectors such as renewable energy, procurement reform, and enhancing tax revenue systems.
