Anil Jayantha Fernando stated that the recent depreciation of the Sri Lankan Rupee was caused by the global economic crisis stemming from the ongoing Middle East conflict and not due to any policy decisions taken by the government.
Speaking at a media briefing the Deputy Minister said that rising global prices of fuel, gas, fertiliser, and shipping had placed additional pressure on Sri Lanka’s economy.
He further noted that Sri Lanka’s fuel import bill for the month of May had increased to USD 521 million, leading to a short-term rise in demand for US Dollars.
Minister Fernando also expressed confidence that Sri Lanka would receive the expected tranche from the International Monetary Fund, along with additional financial assistance from the Asian Development Bank and the World Bank.
