How political paralysis in Sri Lanka delays bank reform

Sri Lanka’s messy politics hampers higher economic growth and the reform of state-owned banks.

Sri Lanka’s prime minister, Ranil Wickremesinghe, and his junior coalition partner, president Maithripala Siresena, took a drubbing in local elections against a party backed by former president Mahinda Rajapaksa in February.

The results suggest a handover of power could be on the cards when presidential elections are held in the summer of 2020 and has led to intense infighting amid the upper ranks of the embattled coalition. 

The country's increasingly messy politics have also led country specialists to question whether the coalition has a strong enough mandate, or the will to drive through the tough reforms needed to deliver higher economic growth and ensure their continued...

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