Aug 04, 2019

“Foreign debt crisis is heavy: IMF estimation is wrong” Featured

Dr. Anura Ekanayake says that Sri Lanka's foreign debt crisis is serious and it is worse than the estimation made by International Monetary Fund (IMF).

Professor S.S. Colombage and Dr. W.A.Wijewardena also admitted this argument at a discussion held at the Open University, he says.

A former chairman of the Ceylon Chamber of Commerce, Dr. Ekanayake says that the prediction made by IMF estimating a 5% economic growth until 2025, with exports increasing by 5% annually is not logical under the prevailing economic conditions.

As examples he points out that 2019 at 2020 are election years.

"Sri Lanka, as a middle-income country, is stuck and we cannot think of a better economic journey without resolving the foreign debt crisis" he says.

Dr. Ekanayake further states that currently the female labor force and the youth labor force participation is at a low level.

Source - Ravaya