CB Chief to address biz forum focussing state of the economy and outlook

The Shippers’ Academy Colombo and its academic syndicate has organised a forum on 18 May at 5.00 p.m. at the BMICH with Central Bank Governor Arjuna Mahendran to discuss the the ‘State of the economy: What is the outlook?’ 

Since taking office in August 2015, the new Government has embarked on a new economic direction and is now in the midst of crossroads of transition. The Government says that while a development agenda is in place it has a priority of debt management given the tough external conditions and mismanaged domestic environment it inherited.

For businesses stable policy in terms of fiscal and monetary by the authorities is a fundamental requirement. Especially in terms of monetary policy to understand the Central Bank’s position would be a vital guideline for all sectors in the economy. Recent reports indicate that the International Monetary Fund (IMF) and other global institutions have shown confidence in the island’s efforts to correct structural deficiencies in the economic management.

Exchange rate stability, direction of interest rates and balance of payments are all critical indications of a country’s economic direction. The CBSL recently released its annual report where it also talks of certain strategies that the country would embark to stabilise monetary policy to create a conducive environment for business and the overall environment.

Getting the right balance is the responsibility which falls on the Central Bank of Sri Lanka. 

Given the importance of the subject during a transition period of the Government, this would be an interesting and informative forum for all industries that would be looking for direction and clarity in terms of monetary policy that would affect all cross sectors of the economy.

Interested parties can contact the Shippers’ Academy Colombo, on 0113560844/0773820703 to register for the program; e-mail: [email protected]; web: www.shippersacademy.lk.