IMF’s US$ 337Mn facility showcases acknowledgement of Lanka’s commitment – NCCSL

The National Chamber of Commerce (NCCSL) acknowledges the great work done by the IMF in granting the US$ 337mn finance facility to Sri Lanka.

“This showcases the acknowledgement of Sri Lanka’s commitment to the relevant performance criteria proposed by the International Monetary Fund,” said NCCSL Deepal Nelson.

“Sri Lanka is committed to going in the good governance pathway and introducing many important suggestions made by the IMF. We have already reached one such important milestone by bringing in the Bribery and Corruption Act.”

“Sri Lanka has been lagging in good governance and minimizing corruption which has now begun to be addressed. Therefore, it’s of the highest level of importance to establish these to earn the confidence of the business communities locally and internationally.”

Strengthening the government’s backbone by gradually minimizing the SOEs is also seen as one such activity towards a healthy and productive economy.

“Furthermore, it was highlighted that safeguarding the vulnerable segments of the society has become an important role of the government in this exercise.”

More challenges will be there in the coming years as the global economy has not yet started getting back to its normalcy.

“Other than the mainstream revenue sources in export, the government is looking at more high-end IT-related knowledge exports and R&D development that can give the country an immediate export injection.”

The Nation Chamber of Commerce is committed to supporting the SME sector which is the backbone of any economy and supports it to achieve Sri Lanka’s medium and long-term economic targets while joining hands with international agencies, diplomats and the government.

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