Second DDO ‘if’ current one fails
View(s):There will likely be another Domestic Debt Optimisation (DDO) if the targets of the current one are not achieved, Central Bank (CB) Governor Dr. Nandalal Weerasinghe told a top forum on Friday morning.
“Someone asked me this morning if there will be another DDO. There could be if we deviate from the current DDO,” he told the CFA CEO Forum – Rebooting Sri Lankan Economy, delivering the keynote address.
He added the fiscal policy, structural reforms and the growth path need to move in tandem with the DDO. “We are requesting banks to bring down rates faster. Their role is to support the economic recovery process,” he said noting it is crucial to stimulate the economic recovery.
Sri Lanka has the capacity to come out of the crisis as the growth targets are over-performed, he said. “I hope we will not go through another DDO which will be very difficult for the economy
and the people.”
He said by month end there will be single digit inflation at 7 per cent. Strong growth-enhancing structural reforms and strong policy are important, Dr. Weerasinghe added.
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