‘Implement well targeted economic recovery plan’

October 11, 2018

Statement by the Hon. Minister at the Meeting of Commonwealth Finance Ministers

“Sri Lanka welcomes these series of initiatives of the Commonwealth, that aims to enhance national capacities to reduce disaster risk.

Vulnerability must be looked at not only from a trade and commerce point of view but must take into account financial risk as well. In an era where currencies and interest rates are volatile, mainly due to the unpredictability of external factors such as unprecedented challenges to the well established international trading regime and the consequential effects of spiraling energy costs, natural disasters may push smaller nations towards uncontrollable economic chaos.

In this context, Sri Lanka urges the Commonwealth to redouble its efforts and begin implementing a well targeted and thought out economic recovery plan to buttress the financial fallout of increasingly frequent natural disasters.”