Imports to be further restricted due to dollar shortage : Basil informs cabinet


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  • Aug 28, 2021
    Imports will have to be further restricted due to the dollar shortage in the country, Finance Minister Basil Rajapaksa said at a cabinet meeting last night (13).

    However, the Minister had reportedly told the Cabinet that the priority will be given to the importation of fuel, pharmaceuticals, essential food items and requirements for industries.

    He said he was in talks with several countries including India, Japan and China to avoid a dollar deficit and hoped for a positive response from those countries.

    He has also stated that his talks with the Indian government was successful.

    Meanwhile, he said he was also in talks with the International Monetary Fund (IMF).

    As President Gotabhaya Rajapaksa is out of the country, the Cabinet meeting chaired by Prime Minister Mahinda Rajapaksa was held at Temple Trees to discuss the long-running dollar shortage in the country, sources said.

    During the meeting several ministers have called for a loan from the IMF as a solution to the dollar deficit, while others have said they will have to agree to conditions if they go to the IMF.

    However, it is learned that no final decision has been taken on whether to go to the IMF or not.