The National Economic Commission appointed by President Gotabaya Rajapaksa comprised of 16 leading business leaders and economists has tendered five recommendations for immediate implementation to troubleshoot the prevailing economic crisis in the country.
- Immediate appointment of a Technical Committee consisting of officials representing the Central Bank of Sri Lanka and the Treasury to propose international financial assistance.
- Immediate appointment of a financial advisor and a legal advisor.
- The Technical Committee should expeditiously come up with a restructuring initiative to propose international financial assistance.
- An expert team to assist the Finance Minister should be identified.
- Building trust should be focused by avoiding supply barriers.
The Commission further recommended that short and long term measures be taken to strengthen financing to stabilise the economy and steer it in the right direction.
Sri Lanka too is experiencing the repercussions of the impact on the economies of many countries around the world and among them is the forex crisis at the forefront. It is the Commission’s observation that the prevailing economic meltdown be avoided in the short term by properly managing the challenges faced.
