IMF urges SL to trade with India-China

by admin
Jul 31, 2012

The International Monetary Fund (IMF) has urged Sri Lanka to focus on trading with India and China in order to improve its poor exports and economic growth.

The IMF's representative for sri Lanka and Maldives, Koshy Mathai, said,

"We are not going to have economic success if we continue having exports declining relative to the size of economy. It is only with export growth, that the Sri Lankan economy is going to go forward,"

"Failing to take advantage of the opportunities provided by the economic growth by those areas [in China and India] today would be ashamed, would definitely be giving up an opportunity for Sri Lanka to go forward,"

In 2011, Sri Lanka's exports accounted for 17.8% of GDP, compared with 33% in 2001.

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