Sri Lanka calls for diaspora investment on independence day

  • 📰 eNCA
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 49. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pepkor makes retail investment in Brazil in what experts call a good strategic moveWhile the value of the deal was not disclosed, Pepkor said the acquisition of the group was less than 4% of its market capitalisation, which on Thursday was about R80bn.
Source: TimesLIVE - 🏆 28. / 59 Read more »