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Rajapaksa looks to bring in laws, fast-track plans to attract forex

"If we fail to control our spending, there will be a foreign exchange problem in the near future," Rajapaksa said

Gotabaya Rajapaksa
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Gotabaya Rajapaksa

Reuters
Sri Lanka will introduce new laws to attract investments over the next three years while policies to develop exports, tourism and remittances will be fast-tracked in a bid to rebuild foreign exchange reserves, President Gotabaya Rajapaksa said on Tuesday. 

In a speech to parliament, Rajapaksa also said a debilitating shortage of forex was inevitable in the South Asian island nation unless expenditure was managed well.

“If we fail to control our spending, there will be a foreign exchange problem in the near future,” Rajapaksa added.

“There should be major development in the areas of foreign currency to develop exports, tourism, remittances, and information

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First Published: Jan 18 2022 | 11:40 PM IST

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