News > 'We have bitten off more than what we can chew'
'We have bitten off more than what we can chew'
Business Standard | 04/05/2022 10:46 PM | Click to read full article
Debt-ridden Sri Lanka's Finance Minister Ali Sabry acknowledged before Parliament on Wednesday that usable foreign reserves which were at around USD 7 billion in 2019, had dropped to less than USD 50 million now.
"The country is at a critical juncture to make a decision on implementing reforms, like South Korea and India in 1990 and 1991 or going down like in the cases of Venezuela or Lebanon," he said.