Waves of foreign assistance could tide over some of Sri Lanka’s macro economic troubles according to analysts. Waves of foreign assistance could tide over some of Sri Lanka’s macro economic troubles according to analysts. The Central Bank expects the balance of payments to show a surplus this year from a deficit of over US$ 200 million last year.
The rupee reversed the trend set against the dollar, an economic bellwether showing the confidence markets placed about the pace of the turnaround.
But challenges do exist.
The aid absorption rate in Sri Lanka has been low in the past and experts say upping this rate will be crucial for the quick recovery the country is banking on.
A US Black Hawk packed with relief aid, readies to takeoff at Sri Lanka’s only international airport.
Helicopters like Black Hawk have to operate from the Katunayake International Airport because it is the only airport capable of handling huge aircraft like C5 Galaxy.
Large transporters like C5 are bringing in marines and backhoes for relief and reconstruction work.
Meanwhile young recruits, form