Rupee set to strengthen with IMF loan and increased receipts
Posted on March 11th, 2023

Courtesy Hiru News

Professor Aminda Methsila of the Faculty of Management and Finance of Wayamba University stated that the rupee will continue to strengthen due to the loan facility from the International Monetary Fund and other receipts.

He stated this while commenting on the opinion presented by Fitch Ratings that the value of the rupee may depreciate again by the end of this year.

Meanwhile, The Government of Japan has contributed an additional 6.6 million dollars to the United Nations World Food Programme to provide critical food and nutrition assistance to over one million Sri Lankans.

Through this funding, WFP will provide families with food baskets comprising rice, pulses and cooking oil, to meet half their monthly food needs for a period of two months.

The donation will also be used to procure maize and soybean for the production of Thriposha, a fortified food product, for a period of four months, which will be supplied to pregnant and breastfeeding mothers and young children at risk of malnutrition.

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