Former Deputy Leader of the United National Party and Member of Parliament Ravi Karunanayake says that attracting investments into the country is the most important priority at present.
Speaking to the media, the MP stated that the country should currently maintain foreign reserves of USD 7.2 billion.
He noted that the rupee has begun to fluctuate due to the absence of the required level of reserves.
He further pointed out that a depreciation of the rupee by one rupee would add an impact of Rs. 40 billion to the country’s foreign debt stock.
Therefore, he emphasized that investments are extremely crucial for the country at this time.
