All doubts over Sri Lanka’s ability to overcome economic crisis vanish: Semasinghe

29 April 2024 09:47 pm Views - {{hitsCtrl.values.hits}} 11 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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Colombo, April 29 (Daily Mirror) - The doubts that existed among all parties on whether Sri Lanka will be able to overcome the economic crisis have disappeared, Finance State Minister Shehan Semasinghe said.

He pointed out that this confidence among the business community will have a positive effect on the running of their activities.

Therefore, respect must be given to all parties who shoulder the task of making the country enter the right path by making internationally accepted changes, the State Minister said.

Comments - 11

Prof. Senarath Monday, 29 April 2024 10:10 PM

Rubbish propaganda - the real weakness to serve debts is hidden beneath. Read the respected economist Dr. Wijewardena's recent article on Colombo Telegraph

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Prof. Senerath Monday, 29 April 2024 10:14 PM

This is the conclusion of Dr Wijewardena's article. Sri Lanka’s meagre foreign exchange reserves amounting to some $ 3,400 million net of the SWAP facility from China are not adequate to meet the liabilities. This is a high-risk situation for the country since inability to refinance the maturing loans will force Sri Lanka back to the situation in April 2022.

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Long way to Repay Outstanding Loans Monday, 29 April 2024 10:52 PM

Talk big is cheap. Start paying up those loans and see how you stand. With no big ticket items to generate income and forever taking new loans, when will it stop. Anyway, people have decided and it’s a matter of time unless dirty politics is played on or after voting day.

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Rishan Monday, 29 April 2024 11:00 PM

Better start to pay the debt that we have taken from donor countries and improve the fitch ratings.... else none will give loans to us except China... This fellow giving lorry talks....

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Amaran Tuesday, 30 April 2024 12:28 AM

As the RUPEE APPRECIATES, you all will now dream to IMPORTS things and become LAZY. This will widen the TRADE DEFICIT.

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George Soro Tuesday, 30 April 2024 12:11 PM

The Rupee does not appreciate, that is not possible, as the Rupee is nowhere tradable on the entire planet. It is just fixed by the central Bank. Why does no Sri Lankan know this? Call any bank on the planet and ask for a quote. The answer will always be the same: sorry, this can not be done - we do not trade the Sri Lankan Rupee!! The only place you can get SL Rupee is in SL. It is just a hoax.

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FredSnR Tuesday, 30 April 2024 05:21 AM

Minister your problem is that govt is spending more than it earns called a budget deficit and printing money(getting into more debt) to bridge the deficit You also have existing debt to pay It is a a global problem. In Sri Lankas case it was so bad it went bankrupt. Just now it is able to keep its nose above water and go for elections .New govt will have to curtail expenditure improve productivity (revenue) no other way to get out of this mess. There is also global inflation to combat .The government is the biggest spender even though it has no income and has to tax others so any cuts to expenditure must begin with govt. spending That won't be easy because govts are used to overspending and blaming others including the world for their problems. Solution is to plan, live within your means, don't worry about international experts, solution is in your hands

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Jude Tuesday, 30 April 2024 05:54 AM

The economic crisis gonna re-emerge when government starts to repayment of loans and debt. Remember, government haven't repaying debt for last 3 years!!

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FredSnr Tuesday, 30 April 2024 04:58 PM

Probably what lending institutions want, delay to pay our debt, so that they can dictate terms, tell us what to do .Solution is not to hand over (sell) our assets at fire sale prices as first option, then how can we ever recover, need to prune expenditure first starting with govt which is the biggest spender(waster) improve productivity and show by these steps genuine desire to repay

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last chance Tuesday, 30 April 2024 05:54 AM

It is vanished for you all but not to the ordinary man in the streets.Get you trap shut and vanishes from the political seen.

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Sambo Tuesday, 30 April 2024 08:02 AM

When you people open your mouths you have no control over it but just keep making statements which are not even in sight.

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