Recently, the IMF’s Irish Alternative Executive Director briefed the Central Bank Governor, Secretary to the Treasury and President’s Chief of Staff on the implementation unit that was setup in Ireland when the global financial crisis hit Ireland, which compelled the country to reach out for an IMF programme.

“We need to get it setup and it needs to be functioning, and we need a very good person who has the authority basically to reach out to any part of the government and get things done. It should have the authority, with the President behind it,” he added.

Former Central Bank Governor and senior economist Dr. Indrajith Coomaraswamy revealed that the Sri Lankan government has shown interest in setting up a similar implementation unit to avert any slippages that could derail the economic recovery undermining the confidence on the country.

We need to get it setup and it needs to be functioning, and we need a very good person who has the authority basically to reach out to any part of the government and get things done. It should have the authority, with the President behind it,” he added.

Dr. Coomaraswamy highlighted that Ireland was able to come out of the financial crisis in 2008 due to the role played by this implementation unit by ensuring the smooth implementation of the IMF programme in a short period, which made Ireland one of the success stories in implementing an IMF programme.