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'We have bitten off more than what we can chew'

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.