September 26, 2020
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    Govt. strives to keep rupees’ value stable

    August 19, 2014

    Senior Minister of International Monetary Cooperation and Deputy Finance Minister Dr Sarath Amunugama said in Parliament today (19) that the government endeavored to maintain the stability of the value of rupee thereby helping the exporters to plan their future ventures more realistically.

    Responding to a question raised by UNP Colombo District MP Ravi Karunanayake, the minister said that exporters were hesitant to enter into business agreements when the value of rupee fluctuates fast. “The funds obtained from the International Monetary Fund remain as a reserve. There is no crisis in petroleum and apparel industries in the country today. This stability helps proper management of foreign exchange,” he said.

    Taking loans from international sources was not something new, the minister said pointing out that the then Lankan government had obtained loans from the World Bank to complete the Mahaweli Project. “We also obtained loans from other countries entering into bilateral agreements. All countries have export banks. Even China advises applicants to approach the export and import banks to secure loans,” Dr Amunugama said. (Special Reporter)

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