President Anura Kumara Dissanayake today assured the public that strict measures are being taken to address Sri Lanka’s ongoing Dollar crisis, stressing that he will not allow another economic collapse in the country.
Speaking at a public meeting in Batticaloa, the President said the government is working closely with the International Monetary Fund (IMF) to manage the situation.
“We have discussed with them what measures could be taken, and we have also submitted our proposals,” he noted.
Among the immediate steps outlined were reducing fuel consumption, curbing imports, and cutting overall import costs.
“We must all think about how we can prevent Dollars from leaving the country. There is only a short window, and we must face it with strength,” the President emphasized.
He further said that the US Dollar’s strengthening against other currencies has placed heavy pressure on the Sri Lankan Rupee, with tourism, exports, and worker remittances all showing declines.
Tourist arrivals in April dropped by 29 per cent compared to last year, he said, while export earnings and remittances have also fallen.
The President further revealed that fuel imports have surged sharply, rising from USD 98 million in February to USD 216 million in March, USD 368 million in April, and USD 522 million in May, surpassing the half‑billion mark.
This escalation has further increased demand for Dollars and weakened the Rupee, he said.
“The difference with the dollar must be controlled in the short term. I assure you, I will not allow another economic crisis to occur in the country,” President Dissanayake added. (Newswire)