Interviews
Between September 2022 and December 2023, Sri Lanka’s inflation significantly declined from 69.8 per cent to 4 per cent even as its foreign exchange reserves have increased to $4.4 billion in 2023 from $1.9 billion in 2022, ADB said in a press release.
Meanwhile the ADB has launched a new country partnership strategy (CPS) for the island nation covering the period 2024–2028, with its strategy focussing on restoring Sri Lanka’s macroeconomic stability, reviving growth, and establishing the foundation for sustainable recovery and resilience.
Takafumi Kadono, ADB country director for Sri Lanka opined this new partnership strategy will build on ADB’s ongoing assistance to support Sri Lanka’s efforts to restore macroeconomic stability, and to achieve green and long-term sustainable growth.
The multilateral development financing institution under the new CPS for Sri Lanka will reportedly focus on three strategic objectives centring fostering private sector development promoting green growth, strengthening public financial management and governance, and improving access to climate-smart public services and deepening inclusion.
Fibre2Fashion News Desk (DR)
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