Sri Lanka is not a poor country anymore: CBSL Governor Arjuna Mahendran

Sri Lanka is not a poor country anymore: CBSL Governor Arjuna Mahendran

Sri Lanka is not a poor country anymore: CBSL Governor Arjuna Mahendran

Written by Tharushan Fernando

26 Feb, 2016 | 8:53 pm

Central Bank Governor Arjuna Mahendran, speaking at a media briefing held on Thursday in Colombo to discuss the state of the economy, said that authorities and the IMF were paving a way forward to repay debt and keep the economy growing.

“I want to make it very clear here that we are not going with a begging bowl to the IMF, or to anybody else”, said the C.B.S.L Governor, noting that Sri Lanka “is not a poor country anymore and it has been proved through the bond markets where there is the ability to raise all the requirement for the government through local savings and in that context going to the I.M.F does no longer mean that ‘we are just asking’ for a loan.”

“Now we are trying to get IMF to agree with us”, said the Governor, noting that this includes the policies put forward in order to project to the wider investment community globally, that the best standards available are being adopted in charting the economy’s course forward.

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