Governor Cabral defiant on foreign exchange crisis

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Central Bank

The Governor of the Central Bank of Sri Lanka Ajith Nivard Cabral spoke in a defiant tone on the much talked Doller crisis
Speaking at a function held in Colombo yesterday Cabral questioned “. If we do not have dollars, how did we import $ 22 billion worth of goods last year?

He stressed that the situation is manageable “We definitely have dollars. “said the governor. There have been predictions that Sri Lanka is facing a deepening financial crisis that could lead to bankruptcy.

The countries debt servicing burden is has reached 42.6% of GDP in 2019 with a foreign debt of estimated at $33 billion in 2019.

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