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The Asian Times says Sri Lanka’s economy powers on

Sep 17, 2010 1:32:08 PM - itnnews.lk

Sri Lanka’s economy powers on. The Asian Times said whatever doubts Sri Lanka’s local and overseas investors had about constitutional amendments reinforcing President Rajapaksa’s already appreciable powers,

The Asian Times said they did not show up in the stock market in the week since parliament approved the changes. Sri Lanka Stock Market Colombo All-Share Index has risen more than 4.5%, reaching 6,234 at the Wednesday close this week. It has doubled in the past nine months, after breaking its previous all-time record high just under 3,000 in early September last year, then retesting it from the upside to confirm it as a support. Among the most important changes to the constitution is the abolition of term limits on the presidency, allowing the incumbent. At the end of last month, the head of the International Monetary Fund mission to Colombo, Brian Aitken, foresaw the country’s economy growing 7% this year, double the rate in 2009,