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Sri Lanka will slash drug prices of 60 essential drugs by 16%

Starting 15 June Sri Lanka will reduce prices for 60 essential drugs by 16%. 

In 2022 the island plunged into a financial crisis that resulted in a shortage of essential drugs and increased drug prices. 

According to Health Minister, Keheliya Rambukwella, the appreciation of the Sri Lankan rupee by about 24% has allowed the government to reduce the prices of 60 essential drugs. 

Rambukwella told reporters, "During the height of the crisis we had to raise prices. There was no choice. Some drug prices were increased by 97%. There were shortages of important drugs but now the currency has appreciated so we are passing that benefit onto consumers."

Last week India extended its $1 billion credit to Sri Lanka for an additional year. The remaining fund from this loan will be used to import essential medicines according to State Minister of Finance Shehan Semasinghe.

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