Monday, 12th April 2021

Ranil Wickremesinghe : Political crisis ‘Death Blow’ to economy

British Asia News Network- AD

Colombo: PM told today that nation was fighting to pay back its increasing foreign debt and has blamed recent political crisis as “death blow” to the economy.

Ranil said his government was busy with raising $1.9 billion to help service a first debt payment of $2.6 billion that is due.

Sri Lanka faces $5.9 billion in foreign debt repayments in 2019, a record for the cash-strapped island.

In the recent political turmoil nation lost $1 billion in foreign reserves and tourism was also hit badly.

 

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