Deputy Minister of Finance and Planning Anil Jayantha Fernando stated that the recent depreciation of the Sri Lankan Rupee was driven by the global crisis linked to the Middle East conflict and not by government policy decisions.Speaking at a media briefing today (22), he noted that rising global fuel, gas, fertilizer and shipping costs had increased pressure on Sri Lanka’s economy.

He also stated that Sri Lanka’s fuel import bill for May had risen to USD 521 million, increasing demand for US Dollars in the short term.The Deputy Minister further expressed confidence that Sri Lanka would receive the expected IMF tranche and additional financial assistance from the Asian Development Bank and the World Bank.