Stemming economic crisis -- CB, 3 ministries to work out strategies

2 October 2018 09:14 am - 11 - {{hitsCtrl.values.hits}}

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The Ministries of Finance, Development Strategies and International trade and Trade and Commerce and the Central Bank will, within a week, decide on the steps to be taken to keep the rupee stable in the wake of the global economic crisis, sources close to Prime Minister Ranil Wickremesinghe said yesterday.

They said he had directed the three ministries and the Central Bank to work out strategies to minimize the effect on Sri Lanka from the fallout of US sanctions on Iran and the trade war between the USA and China.

The sources said these strategies would be implemented no sooner the Prime Minister returned from Norway.

Meanwhile, the economic experts have informed the government that Sri Lanka’s tea exports might come to a standstill when the US sanctions become effective in November this year and that China was unlikely to lend funds to Sri Lanka as a result of high tariffs imposed on its exports by the US. (Yohan Perera)

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Comments - 11

Where is it Tuesday, 02 October 2018 09:47 AM

Sir,There is no "global economic crisis". Only a LKR crisis. Also may be a INR crisis.

Mislead Tuesday, 02 October 2018 09:50 AM

Darling, your understanding is WRONG as always. You say "global economic crisis". NO. It is crisis within Sri Lanka because your our PM.

Saranga Tuesday, 02 October 2018 09:55 AM

This country never learnWhat do we expect???Corruption, scared of unions, lack of clarity and outrageous power pricesWe want to manufacture???? Let me ask who would be willing to invest???

Shehan Tuesday, 02 October 2018 12:21 PM

Corruption and commissions commissions. This why another major investor in electric train plant, is packing bags to leave another Asian country.

Jaliya Tuesday, 02 October 2018 09:58 AM

The steps to be taken to keep the rupee stable in the wake of the global economic crisis, PM said.... can he elaborate on these global economic crisis ??? How much garbage this man can shove down the throat of general public ?

Made in Sri Lanka Tuesday, 02 October 2018 10:05 AM

Stop imports. Ask people to cultivate . "MADE IN SRILANKA" concept. Beauty Queens drank "King Coconut water". Start made in TABs, Computers, Buses, Trains, Cars, Banking Software, Bath ware, Refrigerates, cookers.Ask people to use firewood.Import Only raw materials to produce essential products.

ransam Tuesday, 02 October 2018 02:12 PM

To do that you need a long term plan and a national policy. You cannot just ask people to change their behavior and buying patterns because country is in short term crisis.

Ronnie Bugger Tuesday, 02 October 2018 10:14 AM

Yeah, and report to the tuition master.

Premalal Tuesday, 02 October 2018 11:53 AM

After aiding and abetting the biggest bank heist which no doubt contributed to the present crisis he is trying to be a hero. He should be held accountable for the debacle.

Sunil Tuesday, 02 October 2018 02:00 PM

Not just aiding and abetting, but actively supporting.

Unchikun Tuesday, 02 October 2018 12:10 PM

“ No sooner the prime minister returns from Norway” . Why is this man in Norway where the country is reeling in a economic mess. The global trotting in full swing?

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Stemming economic crisis -- CB, 3 ministries to work out strategies

Comments - 11

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