By: Isuru Parakrama
Colombo (LNW): Sri Lanka is due to receive US$ 07 billion as a debt from two foreign banks, revealed State Minister of Finance Ranjith Siyambalapitiya.
These loans will be offered by the Asian Development (ADB) and the World Bank (WB), the Minister added, stressing that the international trust lost to the debt default announcement in April, 2022 was restored following the approval of the International Monetary Fund’s Extended Fund Facility (EFF).
Meanwhile, the Minister added that sale of alcohol and cigarettes has decreased by 30 to 40 per cent, due to the imposition of a higher tax on them. A majority of low-income earners are unable to afford alcohol and cigarettes, he added.