Participating in an International Monetary Fund (IMF) programme is similar to one falling ill and being admitted to hospital, that though the Sri Lankan economy has not become a seriously ill patient who should be admitted to the intensive care unit (ICU), but has clearly become a patient who had to be admitted to hospital, said Central Bank Governor Indrajit Coomaraswamy recently while reviewing ‘The Road Map: Monetary and Financial Sector Policies for 2017 and Beyond’.
While speaking further, the Central Bank Governor said, “While we are aware of the treatment to be provided for this, it is a pleasure that it has already been started. Even the IMF has by now appreciated the progress by Sri Lanka. Since the improved efficiency of the state monetary sector is the important unit in this progress, the work done by the finance Minister and his staff should be appreciated. However, the challenges before us are the proper implementation of this with a clear understanding, goal and commitment of the road map before us. This has to be done through a national effort.”
However, while responding to the Central Bank Governor’s statement during a media conference on 05 January, Finance Minister Ravi Karunanayake said that when Mahinda Rajapaksa had handed over the government the economy was already in the ICU and that when the economy was being pushed into the ICU during the Mahinda Rajapaksa era, the incumbent Central bank Governor had been an attendant in that hospital. While pointing out that he (Indrajit Coomaraswamy) was also with the Rajapaksas at that time, the Finance Minister added that however, what had been in the ICU would soon be brought not to the hospital but to the OPD.