Colombo: President Gotabhaya Rajapaksa has formed two new departments in Sri Lanka, which are looking for ways to overcome the biggest crisis in the country’s history.
The new ministries were formed under the names of Technology, Investment Promotion, Women and Child Affairs and Social Development. The role of the Department of Investment will be to increase FDI and private investment. It is expected that more than 15 institutions working in the field of women and child welfare will come under the new Ministry of Women and Child Welfare.
The new departments were formed after President Gotabhaya’s younger brother and former finance minister Basil Rajapaksa vacated parliament. Meanwhile, IMF spokesman Jerry Rice said that discussions were underway to send representatives of the International Monetary Fund to Sri Lanka to provide financial assistance to Sri Lanka.
But before entering into agreements, the country needs to restore the liability stability associated with debt repayment. During a meeting with IMF chief Kristalina Giorgio yesterday, Sri Lanka requested that the team be sent.