June 29, 2022

Market and Financial News

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What is the current state of the Sri Lankan economy which has been facing headwinds since the Covid-19 outbreak?

1 min read

Foreign exchange reserves plummeted by almost 70% in two years. As of February, the country was left with only $2.31 billion in its reserves but faces debt repayments of $7 billion in 2022. The Rajapaksa government’s decision to ban all chemical fertilisers in 2021, a move that was later reversed, also hit the country’s farm sector, and triggered a drop in the critical rice crop.

2022-04-02 14:15:43

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