Sri Lanka's new finance minister said Thursday that economic reforms will be put in place as soon as possible to help resuscitate the war-ravaged economy. K.N. Choksy said that as part of such reforms, subsidies on oil and wheat imports could be lifted "with the least burden to the people." Choksy also reaffirmed the government's commitment to reduce defense spending.
"The cost of the war is a great drain and the largest burden on the issue, so it must be resolved," Choksy said.

Donor agencies have long called for financial reforms to help drive the economy.
The United National Party has said it would seek donor funds and foreign investment to assist in reform-driven growth and to help narrow the bloated budget deficit. Bureau Report