State Minister of Finance Shehan Semasinghe led the Sri Lanka delegation to the 04th Session of the Committee on Macroeconomic Policy, Poverty Reduction and Financing for Development at the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in Bangkok, Thailand from 01-03 November 2023.
After the opening remarks made by the Under-Secretary-General of the United Nations and the Executive Secretary of UNESCAP Armida Salsiah Alisjahbana, State Minister Semasinghe delivered the keynote remarks at the session.
In his remarks, the State Minister stated as fiscal deficits have become common in both developed and developing countries, borrowing for budget finance needs to be looked at in a new light. Indeed, a new approach is necessary in particular to circumvent the present approach’s undue favoritism of short-term public debt sustainability at the expense of long-term economic and social development.
At the session, Ambassador of Sri Lanka and Permanent Representative to UNESCAP, C. A. Chaminda I. Colonne was elected as one of the vice chairs.
On the sidelines of the Forum, State Minister Semasinghe held bilateral discussions with Under-Secretary-General of the United Nations and Executive Secretary of UNESCAP Armida Salsiah Alisjahbana, Deputy Minister of Finance of Thailand Julapun Amornvivat and the Neighbouring Countries Economic Development Cooperation (NEDA).
The Sri Lanka delegation comprised of Ambassador of Sri Lanka and Permanent Representative to UNESCAP C. A. Chaminda I. Colonne, Additional Director General of the Department of External Resources Visakha Amarasekere, First Secretary/Deputy Permanent Representative to UNESCAP A.W.S Samanmali and First Secretary (Commercial)/Deputy Permanent Representative to UNESCAP Vireshika Bandara.
Embassy and Permanent Mission of Sri Lanka
Bangkok
06 November 2023
