Indrajit Summarizes the Reasons for Sri Lanka’s Economic Crisis

Shamindra Ferdinando in The Island, 26 March 2022, where the tiltle reads ”Successive governments’ budgetary operations caused financial instability”

Former Governor of the Central Bank Dr. Indrajit Coomaraswamy says the failure on the part of successive governments to manage expenditure since the country gained Independence has caused the current economic instability.

Throughout Sri Lanka had been plagued by a toxic combination of populist politics and an entrenched entitlement culture among the people, Dr. Coomaraswamy told The Island. “Time and again, the electoral calendar has undermined fiscal discipline,” Dr. Coomaraswamy, who had served as the Governor (July 2016 to Dec. 2019) said.

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One response to “Indrajit Summarizes the Reasons for Sri Lanka’s Economic Crisis

  1. Chandra Maliyadde

    All these personnel and I were in public service holding senior responsible positions in the Government. Unfortunately, wisdom of truth has dawned upon us now after retirement. Some of us were living abroad and expected the present youth to take the baton and take remedial measures for the malady we left.
    Good Samaritans. We keep on chanting IMF mantra as we ourselves are bankrupt in thoughts.

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