COLOMBO : Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure it does not return to crisis, its central bank chief said on Tuesday.
"Budget has to look at what reforms are needed to ensure Sri Lanka remains stable and does not return to crisis," he said. Sri Lanka signed a staff-level agreement with the IMF in early September but needs to get financing assurances from multiple creditors, including China and Japan, to secure disbursements.
Treasury secretary K. M. Mahinda Siriwardana said at the same event that stabilising the economy remained a challenge and the private sector must perform its role in aiding the government in pulling the economy out of crisis.
Source: Financial Digest (financialdigest.net)
Translation: Sri Lanka puts the lotion on its skin
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