{"id":131198,"date":"2023-01-08T16:19:21","date_gmt":"2023-01-08T23:19:21","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=131198"},"modified":"2023-01-08T16:19:21","modified_gmt":"2023-01-08T23:19:21","slug":"strong-institutions-are-foundation-for-long-term-growth-cbsl-governor","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2023\/01\/08\/strong-institutions-are-foundation-for-long-term-growth-cbsl-governor\/","title":{"rendered":"Strong institutions are foundation for long-term growth \u2013 CBSL Governor"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Adaderana<\/em><\/span><\/h2>\n\n\n<p>Central Bank Governor Dr. Nandalal Weerasinghe says that strong, independent institutions are the foundation for sustainable, inclusive and steady growth for a long period.<\/p>\n\n\n\n<p>Speaking during a panel discussion on the topic \u2018South Asia\u2019s path to resilient growth\u2019 organised by the International Monetary fund (IMF), Dr. Weerasinghe said that Sri Lanka has moved backwards in all its social indicators due to the lack of strong institutions in the country.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Sri Lanka is the worst affected through fragmentation - CBSL Governor (English)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/wecDwLC5hC4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>In response to a question raised by Krishna Srinivasan, the Director of IMF\u2019s Asia &amp; Pacific Department on how Sri Lanka can avoid getting trapped by fragmentation, Dr. Nandalal Weerasinghe emphasized that the countries like Sri Lanka are affected the most due to fragmentation.<\/p>\n\n\n\n<p>The CBSL chief, who mentioned that the only refinery in the country is operated from Iranian oil further added that Sri Lanka had to stop operations following the sanctions on Iran by the U.S.<\/p>\n\n\n\n<p>Sri Lanka was affected due to the inability to do trade settlement, he added, expressing that the country pays high prices for fuel due to the inability to make direct purchases from Russia, owing to the Russia-Ukraine war.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Adaderana Central Bank Governor Dr. Nandalal Weerasinghe says that strong, independent institutions are the foundation for sustainable, inclusive and steady growth for a long period. Speaking during a panel discussion on the topic \u2018South Asia\u2019s path to resilient growth\u2019 organised by the International Monetary fund (IMF), Dr. Weerasinghe said that Sri Lanka has moved [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-131198","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/131198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=131198"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/131198\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=131198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=131198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=131198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}