roadBlockAd
brand logo
logo

Financial crisis: SL open to IMF bailout: Government

05 Feb 2022

By Skandha Gunasekara The Government yesterday (5) affirmed that it was open to discussing a bailout package from the International Monetary Fund (IMF) if the conditions benefited Sri Lanka in the long term. Cabinet Co-Spokesman and Minister of Plantations Dr. Ramesh Pathirana told The Sunday Morning that the Government was open to hearing out the IMF on possible solutions to the economic crisis faced by Sri Lanka, adding that the Government would welcome a dialogue on an acceptable package. “We are open about it, especially if it’s beneficial to the country on a long-term basis. Our Government in 2009 obtained a sizeable loan from the IMF. If they come out with a decent package and good solution to help us, we are open to discuss and see the possibilities. We have never said that we will not go to the IMF or anything like that.” He said the Government had been in continuous communication with the multilateral organisation, noting that loans had been obtained from the IMF by the previous Rajapaksa Government. “We have been constantly engaging the IMF over a period of time. It is not a novelty that we have obtained loans from the IMF in the past. We will discuss with them and listen about what they can offer to Sri Lanka and see if they suggest anything novel in relation to the financial difficulties we have encountered.” When asked about the confusion created when Central Bank Governor Ajith Nivard Cabraal contradicted a statement made by Minister of Finance Basil Rajapaksa on the IMF, Minister Pathirana opined that both had given the same message. “More or less the same thing was said by both. All of us know we are going through a difficult time with regard to the foreign currency matter, so they have been in communication with us and annually they review the Sri Lankan situation. This is not a new thing. What the Minister has mentioned is that we are obtaining their opinion and listening to them about what sort of view they have about the country on a futuristic basis,” Pathirana said.  


More News..