No quick fixes for Sri Lanka economy, future sunny: CB Governor

Indrajit-Coomaraswamy

Jul 28, 2016 (LBO) – Sri Lanka’s new Central Bank governor says that he aims to have stable policies with strong fundamentals as opposed to quick fixes.

“May countries are trying to create artificial momentum and if you look closely this has not worked,” Indrajit Coomaraswamy, Central Bank Governor said Thursday.

“We will try to create a stable economic environment where fundamentals were strong, this is key, there are no quick fixes.”

Speaking at the bell ringing ceremony at the Colombo Stock Exchange, he said Prime Minister Ranil Wickremesinghe was expected to present a detailed 5-year plan in the next two week which will give credibility for the government’s march forward.

“The government has already started a stabilization program and the sun may be starting to rise for the island.”

As for the Colombo Stock Market, although it was not on at a high, he said that this was a good opportunity for investors to buy.