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Sri Lanka’s economy sliding, spinning out of control -UNP

[Sunday Times.lk, Tuesday, 14 February 2012 13:59 No Comment]

The main opposition United National Party (UNP) said on Tuesday that the economy was in a bind in complete contrast to the picture painted by Central Bank Governor Nivard Cabraal and subsequently showcased by politicians.

“The mismanagement of the problem; particularly ignoring the ballooning trade deficit and under-pricing energy in an artificially controlled exchange rate and interest rate regime, had no other possible ending other than the one that is unfolding right before our eyes. The domino effect of the erroneous decision making by the miserably politicized Central Bank resulting in a massive depreciation and an unprecedented increase in energy prices will be widespread and be felt by all.  The enormity of the fallout will become clear in the coming days with people unable to meet their daily requirements resulting in worker agitations for salary increases which could even spin out of control,” noted MP and economist Harsha de Silva in a statement. 

He said the government has no one to blame but themselves for this predicament and the public would now realize the vituperative attacks made on their critics were of bad taste and unprofessional. “Going forward we hope for the sake of the millions of innocent people of this country that persons knowledgeable in the subject of economics and modest enough to take criticism from others would be handed over the responsibility to manage this nations complex economy,”

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