Sri Lanka has been elected as the chair of the Intergovernmental Group of Twenty-Four (G-24) on International Monetary Affairs and Development organised concurrent to the annual conference of the World Bank (WB) and the International Monetary Fund (IMF) slated to be held in Bali Nusa – Indonesia in 2018.
Finance Minister Ravi Karunanayake was elected as Chairman of the Intergovernmental G-24 at the just concluded annual conference of the IMF and WB held at the Peruvian Capital Lima from 9 to 11 of this month.
At the summit the two foremost international lending agencies focused on the development derive initiated by the new regime of Sri Lanka and committed an enhanced aid package for Sri Lanka. The financial aid package with no strings attached was an outstanding achievement by Sri Lanka.
The deliberations at the annual summit primarily focused emerging global economic trends and the economic processes and onward journey of developed and developing countries took the centre stage. In his address to the summit, Karunanayake briefed the delegates on the new economic strategies adopted by Sri Lanka.