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Key Persons Forum

On 22 January 2010, Project SMED, a project of the Federation of Chambers of Commerce and Industry in Sri Lanka (FCCISL) and the Friedrich Naumann Stiftung für die Freiheit (FNF), conducted their 1st Key Persons Forum for the current year. The Speaker was Dr. P.B. Jayasundara, the Secretary to the Treasury.

He spoke on the subject of Sri Lanka’s plans for meeting economic challenges in the coming years. He commenced by announcing that at the latest Board Meeting of the International Monetary Fund (IMF), it was formerly announced that Sri Lanka is a middle income country. A member country in the IMF would graduate from a poverty list or poor middle income country, only if it has enjoyed income per capita well above the World Bank assistance level. He mentioned that the IMF considers Sri Lanka has now a capacity for durable and sustainable access to international financial market and that Sri Lanka does not face any short term vulnerabilities any more. According to Dr. Jayasundara, Sri Lanka’s per capita income has risen from US $ 1790 to 2220 now.

Dr. Jayasundara spoke of Sri Lanka’s plans to increase its ports, airports, and road and railway network. He spoke of key areas that need to develop, sectors like tourism, indigenous products, agricultural products, banking and service sectors and the SME sector, which is considered as the back bone of Sri Lanka’s economy. He spoke of the importance of Sri Lanka thinking in the lines of a knowledge based economy and value addition to all products.
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