Written by Keshala Dias
10 Jan, 2017 | 8:33 pm
The Banker, a magazine of the British Daily Financial Times, has named Finance Minister Ravi Karunanayake the Finance Minister of the Year in Asia Pacific.
According to a statement from the Ministry of Finance, Minister Ravi Karunanayake has been bestowed the honour by the prestigious magazine for his efforts to steer Sri Lanka into a new era of economic reform and a change in mindset.
The Banker, it adds that Minister Karunanayake secured a $1.5 billion International Monetary Fund loan programme that the country needed to avoid a balance of payments crisis, replenish reserves and rebuild confidence among international investors.
The Banker says that Sri Lanka’s budget deficit has dropped from 7% when Karunanayake took office in January 2015 to 5.6% in 2016, just below expectations.
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