Commonwealth Finance Ministers Annual meeting to be held in Colombo [Monday , September 11, 2006- 9.45 GMT]

Commonwealth Finance Ministers Annual meeting to be held in Colombo [Tuesday, September 05, 2006]

The Annual meeting of the Commonwealth Finance Ministers will be held from 12 to 14 September, with a high level participation of nearly all of the 53 member countries.

225 participants will attend the meeting to be held at the Cinnamon Grand Hotel Colombo. The event will be inaugurated by President Mahinda Rajapaksa.

One of the key sessions of the meeting will be on the theme ‘An agenda for Growth and Livelihoods.’ The annual meeting is taking place just before the annual meeting of the International Monetary Fund (IMF) and World Bank.

Announcing this, Finance Secretary Dr A S Jayasundara said that this would be an occasion to demonstrate the country’s ability to play great partnerships and its management capability. The meeting would discuss heretical means of promoting inclusive growth, which would cause livelihoods and reduce poverty. Further it will discuss the need of an opportunity for the countries to develop their own policies for economic progress rather than having ‘prescriptive solutions’ imposed upon them. Ministers will also converse about current situation of the world economy including high oil prices and how that can affect member countries; IMF and World Bank issues; progress in implementing the debt write-off initiative; and the special challenges facing small vulnerable economies. Another aim of the gathering is to discuss donating international stadiums to the developing countries.

Dr Jayasundara pointed out. “…it is an ensemble of different countries, societies and cultures. This is a good chance to jointly work towards building world peace and cooperation between the nations and also to discuss very important global issues and development strategies.”

Dr P Ramanujam, Torism Secretary said that Sri Lanka Tourist Board will hold an exhibition with 19 stalls with participation of major export sectors of the country including gems and jewellery. The Board of Investment (BOI) will also present investment opportunities available in Sri Lanka to foreign delegates.

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Last Updated Date: September 11, 2006 -9.45 GMT