Shehan tells top UN official Sri Lanka implementing new tools for quick economic reformation

Friday, 6 January 2023 00:00 - - {{hitsCtrl.values.hits}}

State Minister of Finance Shehan Semasinghe on Wednesday told a top United Nations official that instead of continuing the traditional systems, Sri Lanka is focusing on implementing new tools expecting a quick economic reformation.

He made this observation during a discussion with visiting UN Assistant Secretary General and UNDP Asia Pacific Regional Director Kanni Wignaraja. The meeting aimed at better appreciating country priorities and exploring further opportunities for UNDP support to Sri Lanka.

This discussion mainly focused on getting the IMF support and whether there are areas which delay the process.

Shehan Semasinghe hereby explained how the Government works for the IMF approval with regard to the debt treatment and all other necessary reformations on public expenditure. Explaining the Government provided welfare benefits, the State Minister said how transparency is being established to make sure the mostly needed ones are getting the benefits. He further explained how the official creditors support the debt treatment and how Sri Lanka is preparing the detailed explanation with regard to this process.

This discussion further focused on the potential areas for future support on economic development and the financing from UNDP. Additionally, UNDP has expressed their willingness to provide technical support in capacity building in Government authorities.

“In this transition period, the Government mainly focuses on how to de-stress people. Economic crisis has become a huge burden for all. Therefore, we are doing many changes within a very short period and that will surely result in our people being benefited more. Within the mentioned period of time, all of us are expecting your support and also the support from all the other countries to get the needed approvals from the IMF,” State Minister added.

Treasury Deputy Secretary R.M.P. Rathnayake, Department of External Resources Director General Ajith Abeysekera, UNDP Sri Lanka Officer in Charge Malin Herwig, Policy and Engagement Team Leader Fadhil Bakeer Markar and Economist Vagisha Gunesekara have participated in this discussion.

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