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Citizens' Mail

People should elect prudent MPs

People should elect MPs who are acting with or showing care and thought for the future. MPs have to be prudent enough to handle fiscal and monetary matters of the country.

Currently, the country is facing a non virtuous cycle of debt and is a very fragile situation which can even lead to a debt crisis, Central Bank Governor Dr. Indrajit Coomaraswamy has said. He was speaking at the Presidential Commission related to SriLankan Airlines.

We must take this advice seriously and take suitable corrective action.

We thank Dr. Coomaraswamy for giving this advice.

Fiscal means relating to government revenue. Fiscal policy is how the government uses taxing and spending to expand the economic growth.

Monetary means relating to money, specially the total amount of money in a country. Monetary policy is the process by which the monetary authority of a country, controls either the cost of very short term borrowings or the monetary base, often targeting an inflation or interest rate to ensure stability and general trust in the country.

When we appoint Members of Parliament, they should have a knowledge of these important principles.

Let us think about this when cast our votes at the next election.

We thank again Dr. Coomaraswamy for his excellent advice to citizens of this country. It is our duty to take this advice seriously and elect prudent MPs.

D. Weeratunga
Nugegoda


 

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