Development decade at brisk pace
Positive postures and adjustments following post-war transition had
brought on a more upbeat attitude in the country. Most analysts predict
a development decade beginning in 2011. It is not a matter of number
crunching the robust export earnings or the GDP but a deepened urgency
that portends an effervescent mindset everyone is striving to bring
about.
It is much more than the ability to preserve but the need to
critically visualise the future. The fluidity of the paradigm shift from
war to peace has finally disappeared. President Mahinda Rajapaksa put it
succinctly: “We have the inherited wisdom to tolerate all opinion and
take mature decisions. We have a tradition of understanding our problems
and conflicts and finding solutions for them.”
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Magampura
harbour - landmark in economic resurgence. File photo |
That wisdom accumulated amidst the genocidal rages of war endured
patiently for decades. Amidst the grim diagnosis, the need to maximize
resources and the will to end the impasse without succumbing to panicky
despondency a resiliency was born.
The West did not erupt into rapturous joy but revealed an ungenerous
stupor while Sri Lanka’s loyal friends provided a cheering paean to
people’s determination.
Legacy of lessons learnt
The legacy of lessons learnt is part of the psychological and
emotional adjustments that shaped our immediate history. The awareness
level has brought on an exchange of views hitherto absent.
The usual chattering classes either cling on to primeval anti-Indian
sentiments of the past that are an ideological anachronism now.
They exhibit either a visceral fear of the big power hegemony in
varied doses or swallow hook, rod and sinker the mindset of Opposition
ideologues’ warning of imminent dangers from having good relations with
India and China at the same time.
The vast majority has ignored such pessimistic mind-reading and is
bent on fashioning a new work ethic to uphold the newly won gains.
They see the efforts to tap into the abundance of goodwill flowing
into Sri Lanka from all quarters without having to seek leveraged
advantages from any source.
Formation of beachhead
Nothing was more symptomatic of the imminent economic surge than the
completion of Sri Lanka’s new deep-sea port at Magampura harbour (stage
one), on November 18, with the ceremonial docking of the first vessel to
use the port facilities. The beachhead for growth is securely
established.
The strategy to make Sri Lanka an import/export, marine services and
transshipment hub at the locus of key worldwide shipping routes is the
monumental landmark in economic resurgence.
It was no coincidence that amidst that landmark even Sri Lanka
reportedly climbed nine positions this year in the World Prosperity
Index-ranking 59th among 110 nations, well above India, Pakistan and
Indonesia representing the Asia Pacific region released by London’s
Legatum Institute.
The Index is assessed by taking into account both economic growth and
citizens’ quality of life, drawing on data from various sources,
including the Gallup World Poll 2009 and UN Development Report.
Among other indicators of economic health the traditional base of the
country’s economy - tea production rose 16.51 percent to 274.5 million
kilos as at end October 2010 from 235.5 million kilos a year ago,
according to Sri Lanka tea Board showed.
Exceptional year
It was also on record that the export sector would become a US$ 20
billion income earner according to the National Chamber of Exports.
Export earnings for the first eight months of this year grew by 10.8
percent to US$ 5,040.4 million from US$ 4,551.3 million during the
corresponding period of last year. Tea exports grew by 17.8 percent to
US$ 869.8 million. Apparel export earnings fell by 4 percent to US$
2,076.1 million from US$ 2,162.3 million a year ago.
The Executive Board of the International Monetary Fund has commended
Sri Lankan banking authorities, “for their satisfactory program
performance, which has helped stabilize the economy and improve Sri
Lanka’s near-term growth prospects. The current favourable environment
offers a window of opportunity to address remaining macro-economic
challenges and build a strong foundation for private sector-led growth.”
Sri Lanka is no longer designated an underdeveloped country, having
surpassed the per capita income of $2,000, according to the World Bank.
World Bank Managing Director Ngozi Okonjo-Iweala said that the World
Bank would provide a commercial loan of $265 million from the
International Bank for Reconstruction and Development, an arm of the
World Bank. The post-conflict environment provided an opportunity for
the World Bank to support the Sri Lankan Government’s vision to firmly
establish its place in the ranks of fast growing middle-income
countries, she said.
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