Finance Minister assumes chairmanship of G-24 | Sunday Observer

Finance Minister assumes chairmanship of G-24

Finance Minister, Mangala Samaraweera assumed Chairmanship of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24), at its ninety-eighth meeting held in Washington DC.

In his acceptance speech as the incoming chair, Minister Samaraweera stated that the G-24 will focus on “continuing our collective and shared efforts to achieve our broad objective of improving living standards of the people in our countries.”

He pointed out that the need to focus on efforts on enhancing inclusive, equitable and climate resilience growth and creating employment opportunities and continued engagement of the Group on inclusive growth and productivity improvement to create employment opportunities are key priorities.

“Experience has shown that growth in output alone is not enough to improve the welfare of the people. It is widely agreed that transformation of the economy from a fundamentally agrarian, subsistence one to an urbanized, integrated, enterprise-dominated one is important for sustainable economic development,” the Minister said.

He further reiterated that the continued engagement of the Group on inclusive growth and productivity improvement to create employment opportunities will be one of the key priorities. Minister Samaraweera underscored the importance of finding financing for development initiatives.

Comments

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.