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Next fuel shipment due next week, no IMF funds until year ends: Dr Harsha

13 Jun 2022

The next fuel shipment is due to arrive next week from India through the credit line, after that consignment we have no fuel, and the International Monetary Fund (IMF) will not be releasing funds at least until the end of the year, says Samagi Jana Balawegaya (SJB) MP Dr Harsha De Silva. He made this statement while speaking at a press conference yesterday (12). "I had a discussion with the Indian High Commissioner, and he says the next consignment of fuel from India is due to arrive on the 17th of June, after that there is no signs of fuel arriving into the country. There is a LP gas shipment that has been loitering around at sea for the past 5 days, and the government doesn't have 10 million dollars to pay for that consignment. To obtain a loan from the IMF, we must wait until the end of the year, and until then we don't get anything," said Dr De Silva. He further added that a staff level team from the IMF is due to arrive in the country and a staff level agreement would be signed in a month or two, but funds cannot be obtained with that agreement. "For funds to be obtained, the board of directors at the IMF needs to sign the agreement for the loan, and for that, it will take a lot of time and documentation. In short, the government will have to show cost-cutting in expenditures and the government will also have to show how an income is to be generated. Moreover and most importantly, the government will have to show the IMF a plan on how the loan is to be re-paid, and that is not easy," he mentioned. Meanwhile, Sri Lanka Podujana Peramuna (SLPP) MP Nimal Siripala mentioned that the international community has a close eye on Sri Lanka and the economic crisis and the focus on the 21st amendment is vital. "If we are to win the trust of the people, the 21st amendment needs to be reconsidered. The international community will also appreciate if that is done as a matter of priority. It doesn't matter who comes now, we need proper economists to step in now and bring the country out of this current crisis," he concluded.

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