Sri Lanka dumps failed Finance Minister Ravi Karunanayake

Business | 22 May 2017 3:16 pm

Sri Lanka has named the country's foreign minister Mangala Samaraweera as the finance minister in a cabinet shuffle today.

The incumbent Ravi Karunanayake, is seen to be a failure for his many policy missteps. Budgets have been revised and several policies rehashed under his tenure.

Besides, the regime of President Maithripala Sirisena and Premier Ranil Wickeremesinghe is saddled with an unprecdented US$47 billion foreign debt, unabated corruption, falling exports, rising joblessness, trade union anger, and a worsening currency.

Karunanayake was named the finance minister.

It is unclear if Samaraweera's removal as foreign minister is a sign of a government policy shift toward post-civil war reforms and reconciliation.

Former cricketer Arjuna Ranatunga who was posts minister was removed and handed another portfolio. He will now be minister of petroleum resources development.-AP/The Standard  

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