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Last Updated : 2024-04-23 15:09:00
1 April 2022 09:17 am - 8 - {{hitsCtrl.values.hits}}
The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice said on Thursday, as the Asian country seeks to stave off a severe economic crisis.
Rice said the discussions would continue during the visit of Sri Lankan Finance Minister Basil Rajapaksa in Washington for the spring meetings of the IMF and World Bank next month.
A 70% drop in foreign exchange reserves since January 2020 has left Sri Lanka struggling to pay for essential imports, including food and fuel, leading to growing unrest and even military deployments at gasoline stations.
“The Sri Lankan authorities have expressed interest in an IMF-supported financial program,” Rice told a regular IMF briefing. “We plan to initiate those program discussions with the Sri Lankan authorities ... pretty much in the coming days.”
Rice said the IMF would update its forecast for Sri Lanka when it releases its new World Economic Outlook next month, but gave no further details.
He confirmed that Rajapaksa would visit Washington next month for talks with IMF officials, as reported by Reuters last week.
Sri Lanka - which must pay about $4 billion in debt this year - will also seek World Bank assistance after it enters into an IMF program, Reuters reported, citing two sources familiar with the matter.(Reuters)
Mahesh Friday, 01 April 2022 11:15 AM
You should not give loans to this almost likely to collapse regime. First force the regime to keep an election. Then someone will come to power. Then give any loan.
Kosappu Friday, 01 April 2022 11:57 AM
Agree
ajith Friday, 01 April 2022 12:17 PM
If any loans are given to any Sri Lankan government, ask accountability for every cent.
Nish Friday, 01 April 2022 12:25 PM
Don't give free money to this corrupt country without any conditions. They should clean up this useless overgoverned place which has a huge number of public servants bigger than whole Asia. Ask them to stop recruiting their stooges to public service at the expense of taxpayer funded money for doing nothing. Ask them to reduce the useless MPs by two third.
Punchi Banda Friday, 01 April 2022 01:02 PM
We will send our mighty Rana Viras, our powerful saffron army, and our thieving mafia to meet and terrify the IMF and intimidate them into giving unlimited money
Sunil Friday, 01 April 2022 02:27 PM
This guy will sell another sizeable portion of the country
Pantha IMF Kumaran Friday, 01 April 2022 02:32 PM
IMF should not give any loan to this regime. We all know this regime is good at spending on luxury programmes when the ordinary people are suffering. Prime Minister's recent visit to North would have cost the government well in excess of Rs: 10 million. What a waste.
manoj Friday, 01 April 2022 02:59 PM
IMF please don't give anymore loans to Rajapakshas, they will take that and run away to US, and we poor citizens will have to repay that also
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