HomeSri Lanka NewsCyclone Ditwah Losses Could Reach Three Percent of GDP, Says Dilshan Wirasekara

Cyclone Ditwah Losses Could Reach Three Percent of GDP, Says Dilshan Wirasekara

Published on

First Capital Holdings Managing Director and Chief Executive Officer Dilshan Wirasekara warned that the economic cost of Cyclone Ditwah may reach one to three percent of GDP, with initial estimates between two hundred million and two point nine billion dollars. Reported by Daily FT, he urged swift action through innovative capital raising tools, including a large scale Government backed Infrastructure Bond to support reconstruction and distressed enterprises. Wirasekara said the Government’s Rebuild Sri Lanka Fund is the ideal platform and called on investment banks to collaborate at zero fee to accelerate national recovery.

LATEST NEWS

Restoring Investor Confidence: The Urgent Need for Policy Clarity in Sri Lanka

At a defining moment in Sri Lanka’s economic recovery, the focus has shifted decisively...

LOLC Strengthens Position as Sri Lanka’s Global Conglomerate with Record Operating Performance

LOLC Holdings PLC has reported a robust financial performance for the year ended 31...

SpaceX’s Million AI Satellites Plan Sparks Industry Debate

SpaceX’s Million AI Satellites Vision Faces Scepticism from Industry Experts A bold vision unveiled by...

Pan Asia Bank Records Historic Q1 Growth as Profit Before Tax Climbs 13%

Pan Asia Bank Delivers Record First Quarter Growth as Profit Before Tax Rises 13%...

MORE LIKE THIS

Restoring Investor Confidence: The Urgent Need for Policy Clarity in Sri Lanka

At a defining moment in Sri Lanka’s economic recovery, the focus has shifted decisively...

LOLC Strengthens Position as Sri Lanka’s Global Conglomerate with Record Operating Performance

LOLC Holdings PLC has reported a robust financial performance for the year ended 31...

SpaceX’s Million AI Satellites Plan Sparks Industry Debate

SpaceX’s Million AI Satellites Vision Faces Scepticism from Industry Experts A bold vision unveiled by...