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ElaKiri Talk!
Truth behind the $ 6,361 loans
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<blockquote data-quote="rocat90" data-source="post: 19928990" data-attributes="member: 452168"><p><span style="font-size: 18px"><strong>Can we go on like this?</strong></span></p><p><span style="font-size: 18px"> For how long can we as a country continue this way? Not for long. Sri Lanka must find a way to earn its own dollars to, at the very least, repay the principal and interest payments that are falling due on the gigantic loans taken by Rajapaksa for projects that bear his name but have no revenue streams. </span></p><p><span style="font-size: 18px"> The Government must reverse the direction of Sri Lanka’s exports to GDP ratio. It must export a lot more than it is doing now. Particularly with the stagnant remittances from the middle East, which could start to decline, sent by the million or so workers who suffer untold misery to do so, the challenge becomes even tougher.</span></p><p><span style="font-size: 18px"> A fact that is stubborn but is very revealing is that during Rajapaksa’s regime exports to GDP ratio fell from 34% to 14.5%. Just this figure will help the unbiased reader understand the present Government’s predicament. It inherited an economy that was in massive difficulty on the external front but window dressed by certain creative accountants to deceive the people. </span></p><p><span style="font-size: 18px"> </span></p><p><span style="font-size: 18px"> <strong>Way forward is to integrate Sri Lanka with the rest of the world</strong></span></p><p><span style="font-size: 18px"> In my role as the Deputy Minister of Foreign Affairs I am doing my best to push the agenda of economic diplomacy forward so that we can change directions of the exports to GDP ratio. To export more we need to bring in those who can invest in Hambantota and other areas of Sri Lanka.</span></p><p><span style="font-size: 18px"> To get FDI the investors need to see a potential export market. Given ours is a small 20 million lower middle income economy, it is imperative we expand our reach to the region. We must be able to tap in to the emerging South Asian middle class in India, Pakistan and Bangladesh as well as in Central Europe. From the early days it was during the times that we as a nation was integrated with the world that we prospered. </span></p><p><span style="font-size: 18px"> The challenge for us is to once again make Sri Lanka a hub. This time the hub of the ‘Asian oceans’, like the Prime Minister has already said. There are many who are attempting to derail this Government’s economic plan by blocking the initiatives to integrate Sri Lanka with the rest of the world. But I am convinced this Government will succeed in this endeavour. </span></p><p><span style="font-size: 18px"> </span></p><p><span style="font-size: 18px"> <strong>(The writer is Deputy Minister of Foreign Affairs.)</strong></span></p></blockquote><p></p>
[QUOTE="rocat90, post: 19928990, member: 452168"] [SIZE=5][B]Can we go on like this?[/B] For how long can we as a country continue this way? Not for long. Sri Lanka must find a way to earn its own dollars to, at the very least, repay the principal and interest payments that are falling due on the gigantic loans taken by Rajapaksa for projects that bear his name but have no revenue streams. The Government must reverse the direction of Sri Lanka’s exports to GDP ratio. It must export a lot more than it is doing now. Particularly with the stagnant remittances from the middle East, which could start to decline, sent by the million or so workers who suffer untold misery to do so, the challenge becomes even tougher. A fact that is stubborn but is very revealing is that during Rajapaksa’s regime exports to GDP ratio fell from 34% to 14.5%. Just this figure will help the unbiased reader understand the present Government’s predicament. It inherited an economy that was in massive difficulty on the external front but window dressed by certain creative accountants to deceive the people. [B]Way forward is to integrate Sri Lanka with the rest of the world[/B] In my role as the Deputy Minister of Foreign Affairs I am doing my best to push the agenda of economic diplomacy forward so that we can change directions of the exports to GDP ratio. To export more we need to bring in those who can invest in Hambantota and other areas of Sri Lanka. To get FDI the investors need to see a potential export market. Given ours is a small 20 million lower middle income economy, it is imperative we expand our reach to the region. We must be able to tap in to the emerging South Asian middle class in India, Pakistan and Bangladesh as well as in Central Europe. From the early days it was during the times that we as a nation was integrated with the world that we prospered. The challenge for us is to once again make Sri Lanka a hub. This time the hub of the ‘Asian oceans’, like the Prime Minister has already said. There are many who are attempting to derail this Government’s economic plan by blocking the initiatives to integrate Sri Lanka with the rest of the world. But I am convinced this Government will succeed in this endeavour. [B](The writer is Deputy Minister of Foreign Affairs.)[/B][/SIZE] [/QUOTE]
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