SL’s foreign reserves drop below US$50Mn: Sabry

Finance Minister Ali Sabry told Parliament that the current Foreign reserves in Sri Lanka is lesser than US$50 million.

He said Sri Lanka should have gone to the IMF much earlier and floated the Rupee earlier as well.

He also says it will take at least six months for the country to enter into a program with the IMF.

The Finance Minister said that discussions are underway to obtain bridging finance with several countries.

Courtesy: Daily Mirror