Thursday, March 22, 2018 05:40:39 PM

Three scenarios for Sri Lanka’s future: Lecture by Razeen Sally

By Advocata - Tue Jan 03, 12:56 am

An expected economic take-off has not happened two years into the change of government says Prof. Razeen Sally, chairman of the Institute of Policy studies in Sri Lanka.

Delivering a public lecture last week at the Advocata Institute, Prof. Sally says that the window for serious economic reforms is narrowing, and Sri Lanka is on the verge of missing another ‘bus’ towards the road to economic prosperity. “Sri Lanka never misses an opportunity to miss an opportunity” lamented the Sri Lankan-born economist, who has been an outspoken critic of some government policies in recent months, particularly price controls and ad-hoc policy changes.

The present government initially did much worse than the previous government in the area of economic policy warned, Prof. Sally, saying only the recent IMF conditions managed to bring in at least some fiscal discipline. Monetary policy has also been similarly mismanaged and politicized throughout the last decade culminating in the scandal in the bond market which finally led to the appointment of an independent governor….

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