Sri Lanka’s current economic crisis will likely endure for at least two more years, the nation’s finance minister, Ali Sabry, told the Sri Lankan parliament on Wednesday, Agence France-Presse (AFP) reported.
“People should know the truth. I don’t know if people realise the gravity of the situation,” Sri Lankan Finance Minister Sabry told the Parliament of the Democratic Socialist Republic of Sri Lanka on May 4.
“We won’t be able to resolve this crisis in two years, but the actions we take today will determine how much longer this problem will drag,” Sabry stated.
AFP paraphrased the finance minister as saying his nation “now has less than $50 million in usable foreign exchange reserves.”
Sabry further acknowledged on Wednesday that Sri Lanka’s government “had erred by delaying an approach to the International Monetary Fund [IMF] for a bailout.”
Sri…
