CBSL to find alternatives to neo-liberalism; to continue engagement with IMF

Newly appointed Central Bank Governor, Professor W D Lakshman said the CBSL will look for alternatives to neoliberal policies.

He said this decision has been taken in the backdrop of subdued growth and development, prevalence of poverty, under-employment and unemployment.

“Questions are been raised extensively about the validity and relevance of neoliberal policies and its ability to achieve the desired goals of inclusive, sustainable and shared development,” Lakshman told reporters at his first monetary policy press conference today.

“Decision makers in different sectors of the economy are confronted with challenge of searching and identifying alternative policy sets of greater efficacy than the neoliberal policy set we have been working on so far.”

Asked if the CBSL will continue engaging with the International Monetary Fund(IMF), he said  engagement will continue within the national policy framework.

Before taking office the new Government had raised concerns over IMF conditions agreed upon by the former Government.