The World Bank Group has supported Sri Lanka’s development for over six decades. Although in many ways it is a development success story, Sri Lanka still faces critical challenges as it strives to become an upper middle-income country.
Keeping this in view,Why is Sri Lanka important to the ASEAN region?
We must make the most of our historic ties to the ASEAN region, says PM Ranil Wickremesinghe. This is an important moment in Sri Lanka’s development, as the country continues to deliver on its plans for economic development and stands on the cusp of a transition to a knowledge-based economy.
One may also ask,How does Sri Lanka plan to grow its economy?
Through an enhanced focus on an export-oriented growth model that taps the full potential of private investment, the country could realize its ambitions to increase its competitiveness and raise growth in a sustainable manner. The forecast is subject to both upside and downside risks.
Similarly, it is asked,What kind of development model does Sri Lanka have?
As a relatively small but strategically located country, Sri Lanka could strive to achieve sustainable development by moving towards an export-oriented and private-investment led growth model.
What’s the total value of mobile payments in India?
As per the latest available data, the total transaction value of bank-dependent mobile payments for the third quarter of 2018 was just over Rs. 21 billion. However, it is possible that transactions conducted via online banking apps installed on smartphones are also lumped in by the Central Bank.