The Sri Lankan Rupee is continuously being depreciated against the US Dollar and the government has failed to control the situation, said Environment Minister Mahinda Amaraweera.
Pointing out that many ongoing crises in the country are due to the Rupee’s depreciation and the dollar deficit, Amaraweera added that the government, despite any defensive speech, has failed to solve the matter. This fact alone should be embraced, he said in a controversial statement.
There are approximately Rs. 17,200 billion in foreign debt, Amaraweera went on, adding that the amount of debts obtained in the past and the debts due to be obtained will contribute to a soaring figure in the future.
Accordingly, the per capita debt of the people of this country could be close to over Rs. 800,000, he warned.
The Environment Minister further added that all the leaders who were in power since 1977 should be responsible for this debt crisis, for they continued to mortgage the people and obtain debts instead of strengthening the country’s economy.
MIAP