IMF commends Sri Lanka’s strategy to create financial discipline

Jan 20, Davos: The International Monetary Fund (IMF) has commended the new strategy of Sri Lankan government to create financial discipline and lead the country in a correct path to economic development.

Managing Director of the International Monetary Fund Christine Lagarde said she highly values the Sri Lankan Government's dedication to take the country to economic prosperity when she met with the Prime Minister Ranil Wickremesinghe and the Sri Lankan delegation at the World Economic Forum at Davos, Switzerland.

During discussion, Lagarde noted that the Sri Lankan government has exhibited a great deal of commitment in this regard.

Prime Minister Ranil Wickremesinghe said that Sri Lanka had to face unexpected challenges in carrying forward the operations to rejuvenate the island's economy. He noted the difficulties the country had to face in achieving the expected economic growth, especially in the agriculture sector, as a result of the prevailing drought, the worst in fifteen years.

The Premier stated that such climatic changes dent the economic progress of the island nation.

Finance Minister Ravi Karunanayake said that they were estimating the impact on the Sri Lankan economy following the prevailing drought.

The Premier also met Minister of Transport and Highways of India Nitin Gadkari and Chief Minister of Andhra Pradesh Chandrababu Naidu in Davos.

The discussion with the Indian Transport Minister focuses on obtaining support of the Indian Government to improve road network of Sri Lanka. They also paid attention on improving economic and trade ties between Sri Lanka and the Andhra Pradesh. Minister Gadkari and Chief Minister Naidu said that they are willing to support Sri Lanka and strengthen historical ties.