Sri Lanka needs to improve business & investment framework environments: US envoy

 

It is important to reduce red tape and make sure that there are no unreasonable obstacles to investors as they look for opportunities in Sri Lanka and bring in the foreign capital that the country desperately needs.

With regard to the staff-level agreement reached by Sri Lanka and the International Monetary Fund (IMF), US ambassador said the USD 2.9 billion program, if approved by the IMF board, would help restore macroeconomic stability, safeguard financial stability, protect the vulnerable, implement structural reforms, and most importantly address corruption, all to encourage Sri Lanka’s economy to growth at its full potential. 

The US ambassador said she is encouraged to hear President Wickremesinghe and the Governor of the Central Bank of Sri Lanka talk about the need for equitable and comparable debt treatment.