Contact us

The Great Sri Lanka Comeback Story!

By Admin

Sri Lanka’s economic landscape is showing promising signs of recovery, with concerted efforts and strategic reforms beginning to yield positive results. The country is navigating its way out of an economic downturn with resilience and determination, setting the stage for a brighter, more prosperous future.

 

The Asian Development Bank (ADB) has highlighted the significant strides Sri Lanka is making towards economic stabilization and recovery. Despite facing a contraction in recent years, the nation is poised for a gradual recovery starting in 2024. This optimism is fuelled by comprehensive reform measures, including the reversal of previous tax cuts and the approval of the International Monetary Fund’s (IMF) Extended Fund Facility arrangement. These steps are crucial for stabilizing the economy and have laid the groundwork for sustainable growth (Source: Asian Development Bank).

 

The 2024 budget, under the theme ‘Reimagine Sri Lanka: Economic Recovery in Action,’ showcases the government’s commitment to driving innovation and strategic planning towards economic revitalization. Industry experts have rallied around this vision, analyzing and discussing the budget’s potential to significantly impact and reshape Sri Lanka’s financial landscape for the better (Source: Deloitte).

 

Furthermore, the World Bank’s Sri Lanka Development Update 2023 acknowledges the economic challenges faced by the country but also points to the significant progress made in addressing inflation and monetary policy adjustments. The report highlights the easing of foreign exchange liquidity pressures, an increase in usable foreign reserves, and an appreciation of the Sri Lankan Rupee as indicators of the recovery’s momentum. These developments are crucial steps towards reducing the economic vulnerability and enhancing the welfare of Sri Lankan households (Source: World Bank).

 

Efforts to mitigate the impact of the economic crisis on the poor and vulnerable are also gaining traction, with initiatives like direct cash transfer programs providing essential support to millions of families. This, coupled with a noticeable increase in tourism revenues and remittances, has injected vital funds into the nation’s economy, supporting the accumulation of foreign reserves and contributing to the currency’s appreciation (Source: Reuters).

 

The upcoming elections present an opportunity to sustain and accelerate recovery, focusing on implementing critical economic stabilization and growth reforms. Governance, policy direction, and economic management are key areas of focus that will determine the trajectory of Sri Lanka’s recovery efforts.

 

In summary, Sri Lanka’s economic recovery is gathering momentum, supported by a robust framework of reforms, strategic fiscal management, and an unwavering commitment to ensuring a resilient and prosperous future. The collective efforts of policymakers, industry experts, and the international community are crucial in steering the country towards sustainable economic growth and stability.

In the words of Donald Lu, United States Assistant Secretary of State for South and Central Asian Affairs, “In the region I work on, there is no greater comeback story than the story of Sri Lanka!” (Source)

Facebook Instagram Linkedin

Company

Asset Management & Funds

Contact

Copyright © 2024 ACP Asset Management

Designed & Developed by CEM Studios.

Scroll to Top
Contact us

ACP Asset Management

Terms of Use of this Website

It is important that you read the contents of this notice carefully before accessing the www.acp-am.com website. This notice governs your access to and use of the website. By accessing the website you agree to accept the terms of this notice and the following terms of use. If you do not agree to abide by these, you must stop using this website immediately.

The information contained in this section is provided for reference only and does not constitute a distribution, an offer to sell, or a solicitation of an offer.

Each country has different laws, and it is up to the individual to determine if they will be in compliance with their country’s laws. By going further into this site, you signify that you will be in compliance with your country’s regulations and that ACP Asset Management, its affiliates, and partners are not liable for any misrepresentation.

This website and all information provided on it:

  • is solely intended for your private use;
  • is not for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to any law or regulation which would subject ACP Asset Management to any regulatory requirements in such jurisdiction;
  • No US persons or institutions are permitted to access or take information from this website.  This website is solely for distribution to non-US persons or nationals, as ACP Asset Management does not have the permission to market to the United States.
  • is not directed at persons, and is not to be regarded as an offer to buy or sell or an invitation to buy or sell investments, securities, or to accept deposits, or to provide any other products or services in any jurisdiction, to any person to whom it is unlawful to make such an offer or solicitation;
  • does not constitute investment advice on the merits or suitability of any investment product and no information contained within the website should be construed as such.
  • is published as a service for reference purposes only and not to solicit any action based upon it;
  • may be changed or amended without prior notice;
  • may not be used for any legal proceedings against ACP Asset Management or its affiliates and partners.

The information on the website must not be relied on for the purposes of any investment decisions. Investors should rely only on the fund’s offering documents when making any decision to invest. Before making any decision to invest, we recommend that all relevant documents, such as reports, key investor information document and accounts and prospectus should be read, which specify the particular risks associated with investment in the Company, together with any specific restrictions applying and the basis of dealing. The contents of this website should not be construed as legal, taxation, or financial advice. If in doubt, you should speak to your professional adviser.

Investors should note investment involves risk. The price of units may go down as well as up and you may not receive back the amount originally invested. Past performance is not indicative of future results. Changes in exchange rates may have an adverse effect on the value, price, or income of any investment. There are additional risks associated with investing in frontier, emerging, and developing markets. There is no assurance or guarantee that the investment objective can be achieved, and investment results may vary substantially over time.

ACP Asset Management and its affiliates and partners do not make representation that information and materials on this site are appropriate for use in all jurisdictions available on the web, or that transactions, securities, products, instruments, or services offered on this site are available or indeed appropriate for sale or use in all jurisdictions, or by all investors, or other potential clients. Those who access this site do so on their own initiative, and are, therefore, responsible for compliance with applicable local laws and regulations. By accessing each site, the entrant has agreed that he/she has reviewed the site in its entirety including any legal or regulatory rubric.

To the best of its knowledge and belief, ACP Asset Management and its affiliates and partners consider the information contained herein is accurate as at the date of publication. Under no circumstances should this information, or any part of it be copied, reproduced, or redistributed.

By proceeding to access information contained herein, users are deemed to be representing and warranting that they are non-US persons and are permitted under their respective jurisdiction to access this website.  In doing so, they shall keep ACP Asset Management, its affiliates, and partners free from any liability, either tortious or in equity, and shall not have the right to take legal action or present information contained on this website as a part of any previous, current, or future legal proceedings.