May 27, 2022
1 min read

Need policy decisions based on export-oriented economy: SL PM

The Prime Minister made this statement when he met the heads of banks on May 26….reports Asian Lite News

Amid Sri Lanka’s economic meltdown, Prime Minister Ranil Wickremesinghe has elucidated the need to make policy decisions based on an export-oriented economy.

Expressing his wish to pull the island nation out of the looming crisis, he said that these policies can assist the export industry to overcome the current economic crisis facing the country.

The Prime Minister made this statement when he met the heads of banks on May 26.

“About seventy countries are facing difficulties in the current global crisis and Sri Lanka is ranked first amongst those countries,” Wickremesinghe said, adding, that there are many challenges to be faced in the future, both locally and abroad.

However, the Prime Minister also explained that Sri Lanka has a small window in which if the correct policies are taken we can reduce the impact.

The discussion was joined by the Governor of the Central Bank and a number of local and foreign bankers alongside Prime Minister Ranil Wickremesinghe while they discussed definitive solutions to the nation’s problems until an agreement reaches the International Monetary Fund.

As the economy is in no good state, it is evident that there is a high risk of rising international interest rates. The danger of rising international food prices is also being observed at this moment.

Sri Lanka is facing its worst economic crisis since independence with food and fuel shortages, soaring prices, and power cuts affecting a large number of the citizens, resulting in massive protests which culminated in the resignation of former Prime Minister Mahinda Rajapaksa on May 9. (ANI)

ALSO READ: Modi assures India’s continued support for Sri Lanka

Previous Story

Modi assures India’s continued support for Sri Lanka

Next Story

Missing Tibetan writer detained in central China: Report

Latest from -Top News

Hasina’s Defiant Words Before Ouster

Reportedly before leaving Hasina wanted to record a farewell speech to be aired on television, but military officials declined….reports Asian Lite News Following a violent student uprising last year, the Bangladeshi military

US Lawmakers Push AI Watchdog on China

The lawmakers stressed that “there is a strong national security need for better understanding, predicting, and preparing for the PRC’s AI progress…reports Asian Lite News Chairman John Moolenaar and Ranking Member Raja

Trump’s 51st State Pitch to Canada

The development follows a meeting between Trump and Canadian Prime Minister Mark Carney on May 6, where Trump praised Carney’s political success….reports Asian Lite News US President Donald Trump claimed that he

Azhar Acquittal Sparks Outrage in Bangladesh

Jailed for nearly 13 years for war crimes, Azharul was received by party leaders and activists at the jail gate by his radical supporters….reports Asian Lite News Once accused of committing crimes

Trump Warns Putin: ‘Playing with Fire’

Trump on Sunday made harsh remarks on both Putin and Ukrainian President Volodymyr Zelensky…reports Asian Lite News US President Donald Trump warned Russian President Vladimir Putin that he is “playing with fire”
Go toTop

Don't Miss

Sri Lankan President due in India this week

Wickremesinghe will undertake an official visit to India at the

Jaishankar-Peiris talks focus on fishers, energy security

Both ministers recognized the importance of greater tourism for economic