Sri Lanka calls for diaspora investment on independence day

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Sri Lanka marked its independence day on Friday with an appeal to its diaspora to send money home to overcome the island's worsening economic crisis.

President Gotabaya Rajapaksa urged millions of Sri Lankans abroad to invest their savings in their home country.COLOMBO - Sri Lanka marked its independence day on Friday with an appeal to its diaspora to send money home to overcome the island's worsening economic crisis and a pledge to protect foreign investments.

"Expatriate Sri Lankans who provide foreign exchange to the country are a major resource to us," Rajapaksa said.Colombo's foreign reserves, which stood at $7.5-billion when Rajapaksa took office in November 2019, have fallen by more than half, to $3.1-billion. Tourism, another key source of income for the country, has been battered by the coronavirus pandemic.

 

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