Sri Lanka plans laws, fast-track measures to attract foreign exchange

FILE PHOTO: Sri Lanka's President Gotabaya Rajapaksa presents his national statement as a part of the World Leaders' Summit at the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 1, 2021. Andy Buchanan/Pool via REUTERS

COLOMBO (Reuters) - Sri Lanka will introduce new laws to attract investments over the next three years while policies to develop exports, tourism and remittances will be fast-tracked in a bid to rebuild foreign exchange reserves, President Gotabaya Rajapaksa said on Tuesday.

In a speech to parliament, Rajapaksa said a debilitating shortage of forex was inevitable unless expenditure was managed well.