by Hiran H.Senewiratne
Professor of Economics University of Colombo Sirimal Abeyratne said the Sri Lankan rupee is expected to weaken further; it would touch more than Rs 160 to the US dollar level next year, if the government fails to undertake fundamental economic reforms.
"The government has failed to undertake proper economic reforms. Sluggish export growth and the absence of a stable foreign exchange earnings mechanism are among reasons for this plight, Prof Abeyratne told The Island Financial Review.