Sri Lanka looks for foreign investors to stabilize currency

COLOMBO: Sri Lanka is looking for investors that can bring in more than $2 billion into the central bank, Finance Minister Ali Sabry said. Sabry said that the next few months will be difficult for Sri Lankans. "There is a need to attract investments in U.S. dollars into Sri Lanka's central bank," he said. The Minister said that the government is talking with several countries to get funds as soon as possible. "If that effort is successful and money comes to the central bank, it will help stop the depreciation and stabilize the rupee," he said. Amid the ongoing economic crisis, the Sri Lankan government decided last week to suspend repayment for all debts for an interim period till it has an orderly and consensual debt restructuring programme supported by the International Monetary Fund. IANS

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