Sri Lankan Prime Minister instructs relevant institutions to make a strategic plan to protect the rupee

(COLOMBO, LANKAPUVATH) –Sri Lankan Prime Minister Ranil Wickremesinghe has advised the relevant sectors within the next week to prepare the course of action to be taken to safeguard the value of the rupee during the global economic crisis in the face of US economic policies that directly affect the global economy.

Prime Minister Ranil Wickremesinghe yesterday (1) advised to take all necessary measures early on to face the crisis situation that may arise due to the imposition of U.S. sanctions on Iran and the heavy tariff imposed on Chinese imports to the U.S.

Accordingly, under the guidance of Prime Minister Wickremesinghe, Finance Ministry, the Strategic Development and International Trade Ministry, the Ministry of Industry and Commerce and the Central Bank of Sri Lanka are to prepare the strategies to face the crisis.

Sri Lanka tea could not be exported to Iran after the sanctions imposed against Iran go into effect in November, government sources said.

In addition, economic experts have advised the government that the Chinese government will not proceed to grant loans or grants in the future because of the duty imposed on Chinese exports by the US.

The strategies will be implemented after Prime Minister Ranil Wickremesinghe’s Norway visit.

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