"Prime Minister Ranil Wickremesinghe was sworn in as finance, economic stabilisation and national policies minister before President Gotabaya Rajapaksa this morning," the statement from the president's office said.
The turmoil is a result of the Covid-19 pandemic, which ravaged the country's lucrative tourism industry and weakened foreign workers remittances, and ill-timed tax cuts enacted by Rajapaksa. President Rajapaksa and Mr Wickremesinghe have since tried to cobble together a new cabinet of ministers, drawing members from the ruling party and some opposition groups."The finance minister's appointment is extremely crucial because he needs to get the ball rolling on a new budget, talks with the IMF and spearhead fiscal support," said Mr Lakshini Fernando, macro-economist for Sri Lanka-based investment firm Asia Securities.
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