IMF assures strong support for debt restructuring

The International Monetary Fund (IMF) chief yesterday assured strong support to Sri Lanka on debt restructuring.  
IMF chief Kristalina Georgieva said this speaking to NDTV during the annual meeting of the World Economic Forum in Davos.   

 “I feel for the people in Sri Lanka. It is breaking my heart to watch pictures of what is happening in a country which was once quite prosperous.” She said.   

Sri Lanka’s crisis is a result of mismanagement The most important thing to be done is to put the island nation back on a sound macroeconomic footing.  

Georgieva stressed that Sri Lanka needs to restructure its debt and that the IMF will strongly support the island nation in this regard.  

“We have a technical team in the country, we are ready to support Sri Lanka once we have clarity on what the program may look like and how debt can be restructured,” Georgieva added.  
She also complimented India for “being a good friend of Sri Lanka and advocating for Sri Lanka in such difficult times  

 “I feel for the people in Sri Lanka. It is breaking my heart to watch pictures of what is happening in a country which was once quite prosperous.” She said.   

Sri Lanka’s crisis is a result of mismanagement The most important thing to be done is to put the island nation back on a sound macroeconomic footing.  

Georgieva stressed that Sri Lanka needs to restructure its debt and that the IMF will strongly support the island nation in this regard.