Sri Lanka not averse to using Indian rupee as common currency: President Wickremesinghe

economictimes.indiatimes.com:

Ranil Wickremesinghe has said, days ahead of his first official visit to New Delhi. Wickremesinghe, also the cash-strapped country's finance minister, made this remark while addressing the Indian CEO Forum here this week. «Just as East Asia, including countries like Japan, Korea and China, witnessed significant growth 75 years ago, it is now India's turn, along with the Indian Ocean region,» Wickremesinghe said.

Wickremesinghe is expected to visit New Delhi next week, his first since becoming president a year ago amidst unprecedented economic and political turmoil in the island nation. Wickremesinghe's comments were in response to the chair of the Forum, T S Prakash, who in his address had called for the enhanced use of the Indian rupee in the Sri Lankan economy. «It makes no difference to us if India (the Indian rupee) becomes a common currency.

We will have to figure out how to go about it. We must become more open to the outside world», Wickremesinghe said. «The world is evolving and India is undergoing rapid development, particularly under Prime Minister Modi's leadership», he added.

He also said that Sri Lanka benefits from its proximity to India, coupled with a rich history, cultural heritage and longstanding trading relationships spanning 2,500 years, The Daily Mirror newspaper quoted him as saying. Wickremesinghe has steered the island nation out of the economic crisis and said the economy is recovering despite its slowness. «Once we complete debt restructuring our focus will shift towards a comprehensive growth agenda.