December 2016 Current Affairs

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World Bank supporting $100 million for Sri Lanka's economic reforms

World Bank supporting $100 million for Sri Lanka's economic reforms
02 August 2016 Current Affairs: The World Bank has approved a $100 million credit from the International Development Association (IDA) to support the Sri Lanka's economic reforms programme.

Sri Lanka has been making steady progress on economic reforms, with the government aiming to create one million new jobs through a reform package focused on improving the country's competitiveness, transparency and macroeconomic stability.

A World Bank study, the Systematic Country Diagnostic, has highlighted the need for Sri Lanka to move from "a largely inward looking and public sector driven economy" to one that can unleash the potential of the private sector.

The Sri Lanka competitiveness, transparency and fiscal sustainability Development Policy Financing (DPF), which is only the second DPF to Sri Lanka in a decade, aims to support the government's reform agenda by reducing obstacles to private sector competitiveness, establishing transparent and well managed public institutions and improving fiscal sustainability.

The breadth and depth of the actions implemented signal the comprehensive approach and commitment of the government to tackle difficult reforms aimed at making growth sustainable and creating jobs.

The specific actions in this DPF operation will help improve fiscal sustainability and create the fiscal space for delivery of public services, social spending and capital investment, which are integral to the country's competitiveness.

The Ministry of National Policies and Economic Affairs will be responsible for overall implementation and coordination of the proposed operation.

Other agencies involved include the Ministry of Development Strategies and International Trade, the Ministry of Finance, the Ministry of Parliamentary Reforms and Mass Media, the Auditor General's Department, the Board of Investment and the Central Bank of Sri Lanka.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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