Sri Lanka on the Right Track; Reforms Are Tough but Necessary, Says US Ambassador

COLOMBO (News 1st); US Ambassador to Sri Lanka Julie J. Chung has noted that economic reforms are difficult, but Sri Lanka is on the right path.

US Ambassador to Sri Lanka, Julie Chung, has highlighted the critical need for economic and governmental reforms as outlined in the IMF’s Extended Fund Facility program.

She emphasized that while economic reforms are challenging, Sri Lanka is on the right path. 

Ambassador Chung stressed that the people of Sri Lanka deserve openness, transparency, and accountability from their leaders as the reform process progresses.

Reflecting on the recent elections, Ambassador Chung acknowledged the Sri Lankan people's call for change through the ballot box. She stated that the responsibility of realizing this vision now lies with the country's leaders, including those in government, business, academia, the press, and civil society.

As the new government takes shape, Ambassador Chung urged business leaders to play a crucial role. 

She highlighted that business leaders are not only providers of goods and services but also community thought leaders. 

The ambassador noted that their proactive involvement in governance can help advance robust anti-corruption measures and good governance practices, which are essential for a prosperous economy. This includes ensuring that trade and investment undergo critical due process, transparent procurement reviews, and provide returns on investment that genuinely benefit Sri Lankans, rather than contributing to debt through failing projects.

Ambassador Chung emphasized that the relationship between US businesses and Sri Lanka is built on mutual trust and shared values. For this relationship to thrive, it is essential for the Sri Lankan government to create a predictable and stable governance system.

Ambassador Chung expressed optimism about the future of US-Sri Lanka business relations reiterating that by adhering to IMF reforms, continuing the fight against corruption, and creating a stable and predictable governance system where every voice is heard and everyone is included, the full potential of the economic partnership can be unlocked. 

She stressed that the United States is committed to working together to build a prosperous future for both nations.