Sri Lanka, which has faced the worst economic crisis in history in the past, is now taking steps in haste. This debt-ridden country will now educate parliamentarians for economic and business decisions. For this, an institute will also be established in Sri Lanka.
A senior Sri Lankan official told that the cabinet has approved the proposal to set up the Economic and Trade Institute. This institute aims to educate parliamentarians and officials to help them take the right decisions on economic and business matters.
President Wickremesinghe had proposed
Sri Lankan cabinet spokesman Bandula Gunawardene said the proposal to set up the institute was moved by President Ranil Wickremesinghe and has been approved by the cabinet. The legal draftsman will begin the work of compiling a draft bill, he said.
The country was in debt due to wrong decisions
Let me tell you, earlier this year Sri Lanka was drowned in debt. Alam happened that the country saw the worst economic crisis in history. Inflation reached its peak here and people had become victims of starvation. Due to the rebellion, the government also had to suffer a change of power. Analysts say lawmakers were not sufficiently informed about the looming crisis, despite warnings from several quarters. Had the right decisions been taken around 2020, the crisis could have been avoided.
Also Read: After Srilanka-Pakistan, why has the economy of Bangladesh become crispy now?
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