Covid-19 assistance IMF was dragging its feet on SL request - State Minister

• IMF response to the currency SWAP facility of 10 billion Yuan (USD  1.5 billion) from the People’s Bank of China is surprising  

Money, Capital Markets and Public Enterprise Reforms Minister Ajith Nivard Cabraal said yesterday the IMF (International Monetary Fund) was dragging its feet on the Government’s request for assistance to overcome difficulties posed by the pandemic. 

Nevertheless, he said the Government managed to effectively provide necessary relief and support to the Sri Lankan people as well as maintain a framework of sound macro fundamentals even without such financial support from the IMF.  

 He said the IMF response to the currency SWAP facility of 10 billion Yuan (USD 1.5 billion) from the People’s Bank of China is quite surprising. 

• Govt.  managed to support the Sri Lankan people and maintain sound macro fundamentals even without such financial support from IMF