Press briefing of Cabinet Decision taken on 2015-11-05

Annual Meetings of the International Monetary Fund (IMF)/World Bank held in Lima, Peru, from 8th to 11th October 2015

- Hon. Ravi Karunanayake, the Minister of Finance, informed the Cabinet that a delegation comprised of the Senior Officials of the General Treasury and the Central Bank of Sri Lanka (CBSL) headed by him, participated at the above mentioned annual meetings representing Sri Lanka and that discussions were held during said meetings on the future global economic outlook with emphasis on the issues relating to emerging markets and the economic issues relevant to developing countries. The Hon. Minister also informed the Cabinet that adverse effects such as slow growth in the production sector of the economies of respective countries and the political crises faced by most countries have been identified as the reasons for the major issues faced by the developing countries and that the importance of adopting policies properly listed according to priority by the developing countries, in order to face risks such as financial instability, unemployment and income disparity that may arise due to global economic development falling behind the expected level, was also emphasized.

The Minister of Finance, further informed the Cabinet that many fruitful discussions were held with the Finance Ministers of the countries which are important stakeholders of our foreign trade as well as with the senior officials of the World Bank and IMF.