Donor Cartel

The Treasury Secretary, Dr. P B Jayasundera last week criticised what he called a 'donor cartel', whose recommended policies have not been able to lift people out of poverty since the economy was liberalised.

The Treasury Secretary, Dr. P B Jayasundera last week criticised what he called a 'donor cartel', whose recommended policies have not been able to lift people out of poverty since the economy was liberalised. He said Sri Lanka was too small and lacks the type of political leadership that could challenge aid donors' views on development in the face of external shocks like oil and the Indian Ocean tsunami.

"At the end the donors are likening themselves as a cartel, that is not healthy," he said.

Dr. Jayasundera was addressing delegates at a conference in Kandy on Sri Lanka's challenges in meeting the Millennium Development Goals (MDG).

"When I go to ADB they ask me 'Did you get the clearance from the IMF'; when I go to World Bank they say 'No. We can do it; but first we talk to IMF'. Where do we start is major challenge," he said.

"The reason why I am not challenging IMF is that unfortunately is too small and my political leadership is not strong enough.

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