Pic: Adobe Stock
Wickremesinghe remarked, “Looking ahead, we have opportunities for further progress after June,” noting the anticipated strengthening of the rupee to Rs. 280 against the US dollar by then, likely reducing commodity prices.
While acknowledging ongoing challenges for the next three years, Wickremesinghe highlighted reaching the final stage of the government’s programme to avert bankruptcy as a significant accomplishment.
He emphasised ongoing negotiations with loan-providing nations, overseen by France, Japan, and India.
However, Wickremesinghe cautioned that economic stabilisation alone will not solve all issues, given Sri Lanka’s import reliance and the risk of future crises due to foreign loans. To mitigate this, he plans discussions with international financial institutions to transition towards an export-oriented economy swiftly.
He concluded by emphasising the substantial relief provided to the people despite the bankruptcy status, asserting that efforts to stabilise the economy ultimately benefit the nation.
Fibre2Fashion News Desk (DR)