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Home LOCAL

Financial system collapsing due to bankruptcy declaration-Patali

Chanuk Rajakaruna by Chanuk Rajakaruna
4 weeks ago
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The Samagi Jana Balawegaya says the country’s financial system is collapsing due to Sri Lanka declaring bankruptcy.

Taking to social media Parliamentarian Patali Champika Ranawaka said the country’s development projects will have to be paused as a result.

MP Ranawaka said the working class has had to face numerous challenges during the past two years due to the coronavirus pandemic.

He recalled that many governments and private departments and offices were closed, increasing the level of unemployment, especially within the tourism industry.

MP Ranawaka noted, the agriculture industry was severely hit by the government’s decision to ban the import of chemical fertiliser.

He said the country was officially declared bankrupt on the 12th of April.

MP Ranawaka stated the country is gradually coming to a standstill with the reduced number of foreign transactions and overseas investments.

Chanuk Rajakaruna
Tags: bankruptcychemical fertiliserfinancial systemforeign transactionsoverseas investmentsPatali Champika RanawakaSamagi Jana Balawegayatourism industryunemployment
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