Foreign investments not as fast we expected' - Sri Lanka's Finance minister admits as discontent grows
Sri Lanka's finance minister Basil Rajapaksa speaking in parliament, has admitted that the country is not receiving foreign investments as quickly as anticipated, as mass resignations across Sri Lanka's Board of Investments signalled discontent within the regime.
Sri Lanka currently faces a foreign exchange crisis which has been exacerbated by an estimated Rs. 1.6 trillion loss in revenue due to the pandemic and government mismanagement. Loan payments in excess of USD $1.5 billion dollars due next year are at risk of default due to dwindling foreign reserves.