Sri Lanka, July 17 -- Sri Lanka has successfully restored a degree of macroeconomic stability after its worst economic crisis in decades. However, restoring stability alone is not sufficient to improve people's living standards, according to Santosh Menon, President of the Lanka India Business Association (LIBA). In an interview with the Daily Mirror, Mr. Menon said Sri Lanka now requires a "fourth economic transformation" to create inclusive growth, improve purchasing power and ensure that the benefits of development reach all sections of society. He said India's economic transformation over the past three decades, particularly through technology, financial inclusion and renewable energy, offers important lessons for Sri Lanka.

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