irresponsible governance

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Sri Lanka's economic troubles mostly home brewed: economists

Article Date: 
22 Mar 2009

"This is a home brewed macro economic crisis," Razeen Sally from the London School of Economics, said in Colombo.

"It is not a result of global forces for the most part..."

Sri Lanka has gone to the IMF several times either for bailouts or for comprehensive reforms to put the island on a higher growth path, some of which were abandoned in mid-program.

"There is always a ritual dance at work with these aid conditionality packages. The lending organizations are in the business of shoving money out of the door," observes Sally.

Article Source: 
Lanka Business Online
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