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In contrast, the most recentreportedforeign currency reserve levels in the country were at an abysmal $50 million, having plummeted an astounding 99%, from $7.6 billion in 2019. Subsequently, Prime Minister Mahinda Rajapaksa, brother of President Rajapaksa, stepped down and was replaced with former PM, Ranil Wickremesinghe. The COVID-19 pandemic hit the world causing border closures globally and stifling one of Sri Lanka’s most lucrative industries.
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- Despite favorable policy support, solar power is only just beginning to take off in New England.
- India and China have agreed to send help to the country and the the International Monetary Fund recently arrived in the country to discuss a bailout.
- Prior to the pandemic, in 2018, tourism contributed nearly 5% of the country’s GDP and generated over 388,000 jobs.
- However, despite its struggles and discussion to the contrary, the future of coal-fired generation is not clear in the short term.
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