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Sri Lanka must no longer depend on foreign loans: SEC DG

SEC Director-General Chinthaka Mendis yesterday (17) called on the Government to seek funding for its development projects at the Stock Exchange, saying that the country should no longer depend on foreign loans.

"When it comes to economic development we can’t any longer depend on foreign loans. Therefore, let me tell you, this is the place where you can raise funds for your ambitious development projects. So, don’t look elsewhere. This is the place, where we can fund the development projects of our government,” Mendis said whilst addressing a special market opening ceremony which was organized yesterday to mark the Digitalization of the Sri Lankan Stock Market.

He also reiterated the importance of increasing the use of digital technology in Sri Lanka.

“All the regulatory and operational requirements are now in place to facilitate the new era. Our digitalization efforts will effectively place our market in line with emerging markets and it will create a new breed of investors, far and wide to unveil the untapped potential of our capital market.”