Sri Lanka can raise 3 to 4 billion US dollars to build reserves by selling of state enterprises, President Ranil Wickremesinghe has said as the country grapples with the worst currency crises in the history of its intermediate regime central bank.
“The only way in which we can raise foreign exchange reserves is by selling off some of our enterprises for dollars so that we can at least put $ 3-4 billion into the reserve, strengthening the rupee further,” President Wickremesinghe had told a forum of tea factory owners, according to a statement from his office.
“This is the only step that we can take because so far having a vast state sector did not enable the economy to grow that fast.”
