Young Sri Lankans concerned about their future; says former Bank of Thailand chief
As many people are leaving Sri Lanka due to the current economic crisis and looking for greener pastures, young students who are aspiring to become future leaders of the country are very concerned about the talent migration and future prospects to remain in the country.
While seeking advice from an expert in economics, advanced level economics students from popular schools in Colombo attended a lecture organised by the Royal Thai Embassy titled ‘Cultivating new generation of leaders for the sustainable World’ at the Royal College in Colombo on Tuesday. The lecture was presented by Dr. Veerathai Santiprabhob, former Governor of the Bank of Thailand, who was on a visit to Sri Lanka.
A student questioned the former governor, “How can Sri Lanka sustain the country’s future if many young talented people leave the country?” In response Dr. Santiprabhob answered, “Every crisis is an opportunity to learn and grow and a crisis does not stay forever. People need to realise the problems and the younger generation have lot more demanding challenges. Young people are very much concerned about the future of Sri Lanka and hoping for a better future.”
Sri Lanka is embarking on economic reforms and the country has a lot of potential. The first few years of reforms are very difficult for any country and Sri Lanka can certainly return to a strong recovery. There is a bright future for Sri Lanka if the government is committed to carrying out the reforms, Dr. Santiprabhob added.
A crisis tells a lot more about uncertainties and everyone has to go through the process of suffering. “As a former governor at the Bank of Thailand, whatever we did or the policies we produced had a strong mental impunity and we had to practise mindfulness in order to implement certain reforms. Thailand lost so much in defending the foreign exchange during the crisis. Similar to other emerging markets, Sri Lanka’s government spending went up while the tax collection was poor. Every policy implementation has a cost to it, there is nothing called a ‘free lunch’,” he noted.
He also mentioned that when looking at problems in the world, look through a broader view, challenges could become even more complex. “You need to appreciate diversity and not limit to your own perspectives. Schools in Thailand concentrate on presentation and listening skills. Listening helps in appreciating diversity and school students must be encouraged to cherish diversity where successful and impactful leaders could be produced.”
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