Hosted by The Institute of Chartered Accountants of Sri Lanka, and provided by ETIS Lanka, the workshop for updates on the Sri Lankan and global economies was well attended with over 70 participants attending the event on the 30th of July.
Dr Howard Nicholas conducted the workshop, and started the session with an overview of some of the major contemporary developments taking place in the global economy. Attention was given to the current weakening of the advanced economies, the extraordinary amount of printing conducted by the major central banks in the world, and the emergence of fiscal policy as a tool to counter recessionary pressures among the major economies.
The second part was on the Sri Lankan economy with the theme being “Sri Lanka’s missed opportunities”. Comparisons were made to the economies of other developing countries, particularly those of successful countries in East-Asia basing their strategies on export-oriented industrialisation. Emphasis was also placed on Sri Lanka’s dependence on global economic conditions, and what a global recession would mean for Sri Lanka.