FILE PHOTO: Sri Lanka’s President Gotabaya Rajapaksa presents his national statement as a part of the World Leaders’ Summit at the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 1, 2021. Andy Buchanan/Pool via REUTERS
January 18, 2022
COLOMBO (Reuters) – Sri Lanka will introduce new laws to attract investments while policies to develop exports, tourism and remittances will be fast-tracked in a bid to rebuild foreign exchange reserves, President Gotabaya Rajapaksa told parliament on Tuesday.
In a speech, Rajapaksa said a debilitating shortage of forex was inevitable unless expenditure was managed well.
The country is due to repay $4.5 billion in debt this year, with official reserves standing at a meagre $3.1 billion at the end of December.
(Reporting by Uditha Jayasinghe; Writing by Swati Bhat; Editing by Clarence Fernandez)
Source: One America News Network
