Annual sessions of the Economic Association

The Annual Sessions of the Sri Lanka Economic Association will be held on the 11th & 12th September( this week). 

The Session will be inaugurated by Dr S Devarajan, Chief Economist, African Region of the World Bank. The Keynote Speaker will be Dr Pramachandra AtukoraleProfessor of Economics of the Australian National University on the theme "The The Way Forward to Recovery from the Fall-out of the Global Recession". Our economy has suffered a decline from 6-7% growth to an expected3.5% this year. The companies are struggling to be profitable and settle their debt. The banks report hgher Non-Performing Loans of 9% from an earlier 5%. Credit draw-off by the private sector has declined below last year’s level. Banks are more risk averse and borrowers are cautious about investing although nominal interest rates have come down. It has so far propelled only an upward movement in the stock market. But foreign investors are still absent from the stock market although they seem to have more confidence in government bonds. What is the way forward?

Central Bank speakers Drs Thenuwara and Weerasinghe, Assistant Governors will speak on Exchange Rate and Interest rate policies. There will be speakers drawn from the private sector on what they think are possible ways forward. They will discuss Deficit Financing ( R.M.B. Senanayake), Taxes & Subsidies ( Dr Nimal Herath), Productivity * Competitiveness ( Lloyd Yala) . Sectoral Development( N.G. Wickremaratne). Chandra Jayarante former Chairman of the Ceylon Chamber will preside over a session on Good Gvoernance both in the Public sector ( Aritha Wikremanayake) and the private sector ( Mr Reyaz Mihular). There will also be a separate Students Session presided over byMr Sarath Vidnagame of the University of Colombo.

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