- Last Update 2025-06-08 16:36:00
Political crisis caused immense damage to economy - PM
Prime Minister Ranil Wickremesinghe told Parliament today (10) that the 51 day political crisis that engulfed the country recently had an extremely adverse impact on the country's economy.
By Sandun Jayawardana
Prime Minister Ranil Wickremesinghe told Parliament today (10) that the 51 day political crisis that engulfed the country recently had an extremely adverse impact on the country's economy.
Making a special statement in Parliament, Mr Wickremesinghe stated that the crisis had made the task of paying off the country's debts much harder.
He noted that the country's foreign reserves stood at USD 7991 billion by October 26, last year. However, the 51 day political crisis had seen those reserves dwindle drastically by USD 1 billion to USD 6985 billion now, the Premier claimed. "If the crisis had not happened, we would have been able to manage those reserves efficiently to increase them to USD 8 billion," Mr Wickremesinghe added.
The PM also said that the proposed currency swap with India was part of an agreement between SAARC countries and does not require any collateral such as the Mattala Airport or Colombo Port as claimed by some.
-
Still No Comments Posted.
- May 31, 2025 - 488 - 0
Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary
Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred
- June 2, 2025 - 458 - 0
National Tax week launched
The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.
- June 2, 2025 - 364 - 0
SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.
- June 3, 2025 - 203 - 0
Krishanthi Kumaraswami convicts FR dismissed by SC
The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.
- June 6, 2025 - 199 - 0
SriLankan flight grounded in Indonesia
A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.
Related Articles
Presidential power to pardon prisoners misused
- 08/06/2025 - 49 - 0
Four drowned in Aralaganwila
- 08/06/2025 - 62 - 0
Police probe theft of Macaw from Zoo
- 08/06/2025 - 56 - 0
Discarded soft toys make garbage tractor appealing
- 08/06/2025 - 83 - 0
Leave Comments