Sri Lanka appoints advisory committee of economic and fiscal experts to tackle debt crisis

In Sri Lanka, a new financial and economic team for multilateral affairs and debt sustainability in the country has been appointed by the government on Wednesday (April 6).

President Gotabaya Rajapaksa appointed the team with eminent experts, who will be asked to address and provide guidance on the current debt crisis.

The experts will also engage with the International Monetary Fund (IMF) and other lenders as the country struggles to combat the unprecedented shortage of foreign reserves.

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As per a statement issued by the President Media Division on Wednesday, the advisory group includes Indrajit Coomaraswamy, former governor of the Central Bank of Sri Lanka and former director of the Economic Affairs Division of the Commonwealth Secretariat.

The team also includes Shanta Devarajan, who is a Professor of Development Scheme at Georgetown University and former Chief Economist of World Bank and Sharmini Coorey, former Director of Corporate Capacity Development and former Deputy Director of African Department of IMF.

As reported by news agencies, the division said that the members of the advisory group have already held discussions with the President over the ongoing crisis.

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Sri Lanka is battling a severe economic crisis with food and fuel scarcity affecting a large number of the people in the island nation.

SriLankans havesaid they continue to struggle with the state of the country's economy.

President Gotabaya Rajapaksa maintained his stance of not resigning.

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(With inputs from agencies)