Dullas says no decision on IMF assistance yet; urges all not to demonise global entity

Thursday, 20 January 2022 00:10 - - {{hitsCtrl.values.hits}}

Says if SL is to take a decision, it must be reached considering past and not by looking at IMF as an “evil entity”
Opines SL has the right to celebrate its “first round of victory” in a humble way post- $ 500 m ISB settlement
Declines to answer source of $ 500 m and says “it is a fact we cannot print dollars”
Commends support extended by India during economic turmoil

Cabinet Co-Spokesman and Media Minister Dullas Alahapperuma

The Government yesterday announced that the Cabinet of Ministers has not reached a final decision on whether to seek assistance from the International Monetary Fund (IMF), whilst insisting it isn’t right to “demonise” the global

organisation.

“The matter was not taken up at the Cabinet meeting held on Tuesday.

However, if Sri Lanka is to take a decision, it must be reached considering the past rather than looking at the IMF as an ‘evil entity’,” Cabinet Co-Spokesman and Media Minister Dullas Alahapperuma said at the post-Cabinet meeting media briefing yesterday.

He pointed out Sri Lanka had been a member of the IMF since 1950 and has engaged in various activities.

“As a stakeholder of the IMF, we have obtained facilities on 16 occasions, whilst the highest amount was $ 2.5 billion in 2009, and the last facility was in 2016 amounting to $ 1.1 billion.”

Alahapperuma said making foul comments against the IMF was not suitable, reiterating that Sri Lanka was a member country.

He also emphasised that Sri Lanka has an unblemished record of honouring its commitments, noting that it also successfully settled $ 500 million worth of maturing International Sovereign Bonds (ISBs) on Tuesday, debunking debt default doomsayers.

When asked from where the Government sourced its funds from, Alahapperuma deviated from answering.

“It is a fact we cannot print dollars,” he quipped, adding that Sri Lanka has the right to celebrate its “first round of victory” in a humble way.

Alahapperuma also commended the support extended by the Indian Government during this period of economic turmoil and appreciated the efforts of Finance Minister Basil Rajapaksa in winning the assistance from the neighbouring powerhouse. (CdeS)