Banking & Finance sector consolidation in 2021 - Thu Dec 17, 2020 10:27 am
[size=18][size=14]Asia Securities[/size]2,605 followers[size=12]16h • Edited • 16 hours ago[/size]
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[size=18][size=14]Hon. Ajith Nivard Cabraal, State Minister of Money & Capital Market and State Enterprise Reforms remains optimistic of the outlook for 2021 noting that, “Even with the COVID situation, Sri Lanka has been able to generate reasonable interest and robustness within the markets. Sri Lanka has adjusted to the ‘new norm’ reasonably well which can be seen in the 3Q GDP results.”
Speaking about the balance between the health sector and the economy, he stated that “These are two competing interests that are tough to reconcile. There is a need to isolate and lockdown the economy against the need to do business to take the country forward. However, Sri Lanka has been able to strike a reasonably good balance in this sense. Sri Lanka will not seek funding from the IMF as the country hopes to manage with the available resources, and we have sufficient resources to get through 2021. We will also see wide consolidation program between the banks and finance companies, ensuring strong and stable institutions to take the country forward. Further, we expect investments to come into the economy.”
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(source: linkedin)