The Rupee needs a rescue plan
Sri Lanka, July 17 -- In an exclusive interview, SJB parliamentarian S.M. Marikkar discusses the sharp depreciation of the rupee, allegations levelled against the government, efforts by opposition groups to forge political unity, and the recent unrest at Negombo Prison.
Q: The Government has offered several explanations for the sharp depreciation of the rupee, arguing in particular that exporters stand to benefit from a weaker currency. Do you accept that argument?
A: Anyone can make such an argument. It is true that exporters earn more in rupee terms when the currency depreciates. However, there are important realities we cannot ignore. Sri Lanka is not an economy driven solely by exports; we remain heavily dependent on imports. Th...
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