PM confident of securing $ 6 bn to boost economy

• Discussions with IMF are proceeding
• Securing fertiliser and compiling food security programme given priority
• Talks were continuing with donor nations

Prime  Minister, during a meeting yesterday with representatives from the  Joint Chambers, explained that the Government was targeting US $5bn this  year for repayments of loans and further US $1bn to bolster the  country’s reserves.   

He elaborated that discussions with the IMF are proceeding  and he was hopeful that negotiations would conclude by the end of the  month. The Prime Minister also explained to the representatives that  debt restructuring has begun, following the appointment of financial and  legal advisors.  He said that any bridging finance to help alleviate the crisis is dependent on an agreement with the IMF being reached.  

Commenting further, Prime Minister Wickremesinghe stated  that talks were continuing with donor nations. He added that relations  with Japan had broken down, and it would take a while to repair those  relations and regain their confidence.   

In regards to the medicine shortage, the Prime Minister  explained that former Maldivian President Mohamed Nasheed was leading the  international appeal for urgently needed medical supplies.   

Addressing the issue of food scarcity, the Prime Minister  explained that securing fertiliser and compiling a food security programme  were being given equal priority. He explained that in the event of any  excess crops, those would be provided to vulnerable groups at a  concessionary rate.

• The Prime Minister also explained to the representatives that  debt restructuring has begun, following the appointment of financial and  legal advisors