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Despite challenges, Lanka’s reform process moving forward rapidly – Minister Semasinghe

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Despite the challenges, compared to other countries ,Sri Lanka is making rapid progress in the debt restructuring process, State Minister of Finance Shehan Semasinghe.

While joining the fourth session of the United Nations Committee on Macroeconomic policy, poverty alleviation and Financing for Development, the Minister emphasized that Sri Lanka will continue to dedicate itself to sustainable development goals. The conference which started Wednesday will be held in Bangkok, Thailand until November 3. The Minister also stated that, after becoming a middle income country, Sri Lanka had to face the problem of obtaining concessional loans.

He pointed out that the situation worsened with the economic crisis that occurred within the last few years. Semasinghe said that it is important to provide more space for investment opportunities under concessional financing after the completion of the ongoing debt restructuring process.

The minister pointed out that it is essential to expand the ways of receiving non-debt provisions to permanently get rid of the debt pressure and Sri Lanka is preparing for an economic partnership with the largest After the crisis situation, Sri Lanka is expected to get more contribution from the private sector for development.

Multilateral development banks and partners should support this as more investment opportunities open up for the private sector. The Minister points out that it will be possible to reduce the risk of investors.

The post Despite challenges, Lanka’s reform process moving forward rapidly – Minister Semasinghe appeared first on DailyNews.

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