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Last Updated : 2024-04-23 12:32:00
27 March 2023 01:03 am - 9 - {{hitsCtrl.values.hits}}
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Dr. Indrajith Coomaraswamy |
With the aim of ensuring a smooth continuation of the International Monetary Fund (IMF) programme by averting possible hiccups leading to suspension of the programme, the government is contemplating on setting up an Irish-style implementation unit with special powers to implement mutually agreed targets and structural benchmarks within stipulated time lines.
Recently, the IMF’s Irish Alternative Executive Director briefed the Central Bank Governor, Secretary to the Treasury and President’s Chief of Staff on the implementation unit that was setup in Ireland when the global financial crisis hit Ireland, which compelled the country to reach out for an IMF programme.
Former Central Bank Governor and senior economist Dr. Indrajith Coomaraswamy revealed that the Sri Lankan government has shown interest in setting up a similar implementation unit to avert any slippages that could derail the economic recovery undermining the confidence on the country.
“Last thing we need is for us to suddenly find that we have gone out of the track in the programme and it’s suspended, because that will basically constraint the flow of funds to the country. It will also affect the confidence that’s now beginning to build on with the signing of EFF. So, all that will be undermined if the programme gets suspended, because we’re not able to keep it on track. The President is very interested in this implementation unit,” Dr. Coomaraswamy told an expert panel discussion organised by the Centre for Banking Studies of the Central Bank last Friday.
Jagath Ekanayake Monday, 27 March 2023 08:26 AM
The basic difference between Ireland a SL is that the Irish leaders are patriots and worked towards the betterment of all Irish, whereas the current SL leaders are there for the betterment of themselves and their relatives.
Jude Monday, 27 March 2023 08:29 AM
Hello, who needs laser like focus!?? when SL receive the the IMF tranches they pay the debt to India, china and others!! Why do need a implementation unit for unless you want to make rich the former SL Rugby Captain turned economist by way of doling out some consultation fees!!
Kapila Fernando Monday, 27 March 2023 08:37 AM
He does not mention one important difference: Ireland is not corrupt to the core like Sri Lanka.
Jude Monday, 27 March 2023 08:48 AM
Irish leadership adopted strong policies hence manage to pay back the IMF bailout MONEY Euro 67.5 Billion within 7 years that's because Irish politicians were sincere in resolving the crisis!!
Jude Monday, 27 March 2023 08:52 AM
SL in far worse situation than Argentina and Zimbabwe!! Few months back this was living hell yeah no water no electricity no fuel no gas no milk powder no medicine!!
Jude Monday, 27 March 2023 09:08 AM
Irish politicians worked hard to solve the crisis, that's why they managed to settled the €67.5 billion IMF bailout MONEY within 7 years!!
Nihal Kiriella Monday, 27 March 2023 10:06 AM
It may make sense if the EFF program implementation and it's nitty gritty is published for public information and attract comments from apolitical professional s and academics It seems incumbent in pararel to reach out for other suggested alternatives to mobilise fund requirements
Deva Monday, 27 March 2023 10:23 AM
True we need such an unit. But it has to report to a new Cabinet after a fresh mandate from the people.
Small population Irish are mentally are far stronger Monday, 27 March 2023 07:13 PM
The Irish got freedom from the UK by force. Sri Lanka, India and the countries in South Asia actually never went through the genocide the Irish were put to by the British, hence there fight to the death attitude towards the UK to get freedom. They also do not care at all who is British King. Here on the other hand it is pandering to colonial master and all the inefficiencies that come into our society from that.
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