The decision to float the Sri Lanka Rupee has a long-term benefit for the nation, the Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal said today.
In a video message, Cabraal said due to the current situation, the Government had to act to stabilize the economy in the long term.
He pointed out that there may be short-term increases to the prices of several products due to the devaluation of the Rupee.
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The Central Bank Governor said, however, the Government expects more favourable results, such as more foreign income coming into the country.
This could help resolve several of the issues pertaining to Sri Lanka’s economic crisis, he added.
courtesy NewsWire
