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<p><del class="ministerial">We are closely monitoring the economic situation in Sri
Lanka, including foreign exchange data reported by Central Bank of Sri Lanka and Sri
Lankan authorities. Prior to the Covid-19 pandemic, tourism was a key export sector
for Sri Lanka, making up almost 30% of total export revenues. However, Sri Lanka's
tourism receipts declined by almost 80% in 2020 and fell by a further 60% in 2021.
The UK is a key contributor to Sri Lanka's tourism sector. It has been among the top
three source markets in the past three years, placed as the second major country of
origin for tourists in Sri Lanka in 2019 and 2020, and third in 2021. Remittances
from overseas workers have also been an important contributor to Sri Lanka's economy
in the past three years, worth around 8% and 9% of Sri Lanka's total GDP in 2019 and
2020, respectively. Despite initially remaining constant in 2020, remittances fell
by over 20% in 2021, down to their lowest levels since 2011.</del></p><p><del class="ministerial">The
UK recognises the difficult economic situation and welcomes the start in-depth discussions
with the International Monetary Fund (IMF) on reforms needed to bring the economy
back to a sustainable path. The Prime Minister spoke to the Prime Minister of Sri
Lanka Ranil Wickremesinghe on 30 May, and underlined the UK's continued support for
the people of Sri Lanka during their current economic difficulties.</del></p><p><ins
class="ministerial">We are closely monitoring the economic situation in Sri Lanka,
including foreign exchange data reported by Central Bank of Sri Lanka and Sri Lankan
authorities. Prior to the Covid-19 pandemic, tourism was a key export sector for Sri
Lanka, making up almost 30% of total export revenues. However, Sri Lanka's tourism
receipts declined by almost 80% in 2020 and fell by a further 60% in 2021. The UK
is a key contributor to Sri Lanka's tourism sector. Remittances from overseas workers
have also been an important contributor to Sri Lanka's economy in the past three years,
worth around 8% and 9% of Sri Lanka's total GDP in 2019 and 2020, respectively. Despite
initially remaining constant in 2020, remittances fell by over 20% in 2021, down to
their lowest levels since 2011.</ins></p><p><ins class="ministerial">The UK recognises
the difficult economic situation and welcomes the start in-depth discussions with
the International Monetary Fund (IMF) on reforms needed to bring the economy back
to a sustainable path. The Prime Minister spoke to the Prime Minister of Sri Lanka
Ranil Wickremesinghe on 30 May, and underlined the UK's continued support for the
people of Sri Lanka during their current economic difficulties.</ins></p>
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