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Sri Lanka President appoints experts committee to resolve economic crisis

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Among the responsibilities that the Presidential Advisory Group will undertake are to engage in discussions with relevant Sri Lankan institutions and officials engaging with the IMF, and to provide guidance that will address the present debt crisis
Colombo: Sri Lanka President Gotabaya Rajapaksa appointed a team of economic and fiscal experts as Members of Presidential Advisory Group on Multilateral Engagement and Debt Sustainability. 

The Presidential Advisory Group will  engage in discussions with relevant Sri Lankan institutions and officials engaging with the IMF, and to provide guidance that will address the present debt crisis and lead towards sustainable and inclusive recovery for the island nation.

    • Dr Indrajit Coomaraswamy, Former Governor, Central Bank of Sri Lanka and Former Director, Economic Affairs Division of the Commonwealth Secretariat.

 

    • Shanta Devarajan, Professor of the Practice of Development, Georgetown University and Former Chief Economist, World Bank.

 

    • Dr Sharmini Coorey, Former Director, Institute of Capacity Development of the IMF Institute, and Former Deputy Director, Africa Department, IMF.

 

According to president statement, since the appointment of the Presidential Advisory Group, the Members have had a round of discussions with the President on key matters in going forward with the IMF programme, and continue to be in regular communication with related requirements.

A day before President Rajapaksa had invited all political parties to come together to find solutions to the ongoing national crisis. However, the request was acknowledged by the opposition leaders.

Sri Lankan Finance Minister Ali Sabry resigned Tuesday just a day after he was appointed to the post by President Gotabaya Rajapaksa.

“After much reflection and deliberation and taking into consideration the current situation I’m now of the view, for your Excellency to make suitable interim arrangements to navigate this unprecedented crisis,” reads his resignation letter.

Sri Lanka’s 26 ministers had resigned en masse after protests over the government’s handling of the worst economic crisis in decades.

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