Sri Lanka is facing a critical foreign exchange crisis, says finance minister Basil Rajapaksa
The Hindu
The corona virus pandemic has battered the economy of the island nation which is dependent on tourism and tea exports
Sri Lanka is facing a severe foreign exchange crisis as the island nation, which depends heavily on tourism and tea exports, was battered by the coronavirus pandemic, Finance Minister Basil Rajapaksa has said. He added that state coffers also suffered huge revenue losses due to the COVID-19 outbreak. The Finance Minister told Parliament on Tuesday that Sri Lanka was facing a severe external crisis as well as a domestic crisis with revenues falling and expenses continuing to rise.
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