Minister Ravi Karunanayake named Finance Minister of the Year in Asia Pacific

Minister Ravi Karunanayake named Finance Minister of the Year in Asia Pacific

Minister Ravi Karunanayake named Finance Minister of the Year in Asia Pacific

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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