Don't forget reforms because of Ditwah: CBSL Chief

CENTRAL Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe has warned that Sri Lanka cannot afford to forget the reform agenda that underpins the country's stabilisation, even as post-Ditwah reconstruction demands immediate Government attention.

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Speaking at the Sri Lanka Economic and Investment Summit organised by The Ceylon Chamber of Commerce, he said the country’s foundation for growth remains fragile and depends on discipline in macroeconomic management and the timely implementation of structural reforms.

"The stability that we have basically achieved is a foundation for growth," he said. "When going forward, we need to ensure we maintain monetary stability, fiscal stability, and also external stability. That is important, and also financial stability. So, when going forward, for us to move into a higher growth path, we should not weaken the foundation for stability."

He warned that the reform trajectory must not be derailed by the disaster response. "We should not forget that we need to focus on this area," he said. "All these short-term shocks we can absorb. I am sure the fiscal space is there. We can manage that.