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Cabraal responds to Ranil, says new methodology to increase foreign exchange inflow

09 Mar 2021

Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal said in Parliament today (09) that the government is adopting a methodology to increase the amount of foreign exchange flowing into the country. He said this in response to several remarks made by former Prime Minister Ranil Wickremesinghe, who recently said that the country's economy was at risk. State Minister Cabraal stated that the government has managed to control interest rates without allowing the rupee to depreciate. Cabral was speaking during a debate in Parliament today on the gazette notification regarding regulations under the Foreign Exchange Act. The Minister of State pointed out that the inflow of foreign exchange into Sri Lanka has been reduced due to the impact on the health sector due to the global epidemic of Covid-19. The Minister said that the government was able to bring foreign exchange to Sri Lanka through various methods such as Foreign Direct Investment and that the government was able to steer the country's economy in a new direction by increasing the amount of foreign currency flowing into the country through a Presidential Task Force.

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