Sri Lanka's Central Bank has launched an extensive local and international Awareness Programme to portray an accurate picture of the country's economy.
The monetary authority has decided to launch an information programme to set the records straight on a US$ 800,000 deal the Bank has recently signed with a public relations firm in the United States.
In a statement issued Wednesday the Central Bank said it has observed an "aggressive and well-funded misinformation campaign" that is being carried out recently by various groups with "dubious agendas", both locally and internationally to tarnish the political image and true economic successes of Sri Lanka.
The monetary authority expressed concern that if such campaign continues without a counter campaign to correct the misconceptions it may have the potential to create a highly detrimental image for Sri Lanka, and erode the growing confidence of international investors in Sri Lanka.
"Since such an outcome would adversely affect the country's economy and its economic and financial system stability, the Central Bank has embarked upon a robust local and international Awareness Programme to refute such misinformation, and to provide the factual position of the economy and the political environment to all relevant stakeholders," the Central Banks said in the release.
The Bank said towards that objective, it has secured the services of a competent international professional firm to assist in the effort to convey the "true and factual position" regarding Sri Lanka and its economy, particularly in the USA.
"Such an endeavour will be particularly significant, since the USA is a major market for Sri Lankan exports, while US investors have made a substantial foreign direct investment and are the leading holders of Sri Lankan bonds," it further said.
The Monetary Board of the Central Bank has signed an agreement last month with the Washington-based Thompson Advisory Group to implement a relationship building program between the Sri Lankan and US governments.
Opposition parliamentarians raised questions on the Bank's deal pointing out that the Central Bank has signed the agreement as an entity not under the purview of the Sri Lankan government.
Thursday, 18 April 2013
Sri Lanka Central Bank clears misconceptions on the agreement with US firm
Sri Lanka's Central Bank has launched an extensive local and international Awareness Programme to portray an accurate picture of the country's economy.
The monetary authority has decided to launch an information programme to set the records straight on a US$ 800,000 deal the Bank has recently signed with a public relations firm in the United States.
In a statement issued Wednesday the Central Bank said it has observed an "aggressive and well-funded misinformation campaign" that is being carried out recently by various groups with "dubious agendas", both locally and internationally to tarnish the political image and true economic successes of Sri Lanka.
The monetary authority expressed concern that if such campaign continues without a counter campaign to correct the misconceptions it may have the potential to create a highly detrimental image for Sri Lanka, and erode the growing confidence of international investors in Sri Lanka.
"Since such an outcome would adversely affect the country's economy and its economic and financial system stability, the Central Bank has embarked upon a robust local and international Awareness Programme to refute such misinformation, and to provide the factual position of the economy and the political environment to all relevant stakeholders," the Central Banks said in the release.
The Bank said towards that objective, it has secured the services of a competent international professional firm to assist in the effort to convey the "true and factual position" regarding Sri Lanka and its economy, particularly in the USA.
"Such an endeavour will be particularly significant, since the USA is a major market for Sri Lankan exports, while US investors have made a substantial foreign direct investment and are the leading holders of Sri Lankan bonds," it further said.
The Monetary Board of the Central Bank has signed an agreement last month with the Washington-based Thompson Advisory Group to implement a relationship building program between the Sri Lankan and US governments.
Opposition parliamentarians raised questions on the Bank's deal pointing out that the Central Bank has signed the agreement as an entity not under the purview of the Sri Lankan government.
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