Sri Lanka heading towards an economic downturn in the wake of COVID-19

Advocata Cheif Operating Officer, Dhananath Fernando joined an interview with News1st to discuss the economic impact of COVID-19 on Sri Lanka.

“…it will be a very difficult time for Sri Lankans as well as for all global citizens. For Sri Lanka it will be a double whammy,” Fernando said in an interview with News1st.

Sri Lanka kicked off the year with a GDP rate of 2.6 percent and has to settle USD 4.8 billion as external foreign debt, the highest debt repayment amount for the country within a single year.

“Operating the markets [sic] finding a solution to do that is also critically important while on the medical front we are taking the necessary measures,” he noted.