Tuesday, August 9, 2022

Talks with IMF on financial assistance successful: Sri Lankan PM

The prime minister said the IMF expects that Sri Lanka would first submit a debt restructuring plan for approval.

• July 5, 2022
Sri Lankan PM Ranil Wickremesinghe and IMF
Sri Lankan PM Ranil Wickremesinghe and IMF

Sri Lankan Prime Minister Ranil Wickremesinghe says recent discussions with the International Monetary Fund (IMF) on seeking economic assistance for the country have been successful.

“Positive and productive discussions were held on supportive economic policies and reforms,” Mr Wickremesinghe said.

However, the prime minister said Sri Lanka would have to submit a debt restructuring plan to the IMF for approval.

He added that Sri Lanka’s ongoing economic crisis was something that could not be solved within a short period.

Mr Wickremesinghe said Sri Lanka would face difficulties in 2023, and that the government’s immediate plan was to control inflation, expected to rise to 60 per cent by year end.

Sri Lanka had sought assistance from the IMF and friendly nations amid a worsening financial crisis that had caused a shortage in fuel, medicines, food, gas and other essentials.

(Xinhua/NAN)

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