Govt. confident of receiving IMF second tranche amid progress: Bandula

Wednesday, 6 September 2023 04:18 - - {{hitsCtrl.values.hits}}

Acknowledges delays stemming from legal cases filed in Supreme Court hindered progress
Says debt restructuring process not merely an individual concern, but national issue to overcome economic crisis
Describes individuals obstructing debt restructuring process as traitors, highlighting gravity situation

Cabinet Co-Spokesman and Minister Bandula Gunawardena expressed optimism regarding the Government’s prospects of receiving the much-anticipated second tranche from the International Monetary Fund (IMF) Extended Fund Facility (EFF).

Speaking to journalists on the matter at the post-Cabinet meeting yesterday, he noted that the IMF mission is yet to arrive for the review meeting, but the Government has made significant strides in meeting the stipulated conditions.

However, Gunawardena also acknowledged the challenges faced during the domestic debt optimisation process.

Delays stemming from legal cases filed in the Supreme Court have hindered progress, with Cabinet Co-Spokesman characterising such delays as acts of treachery against the nation’s interests.

In a stern tone, he asserted that those obstructing the debt restructuring process at this critical juncture can be considered traitors, highlighting the gravity of the situation.

Gunawardena stressed that the debt restructuring process is not merely an individual concern, but a national imperative for navigating the economic crisis effectively. He also emphasised the challenging nature of the path to economic recovery, particularly since Sri Lanka declared bankruptcy. External creditors have also exerted pressure, making it imperative for the Government to engage in meaningful negotiations and finalise the debt restructuring process.

Gunawardena underscored the importance of adhering to agreed timelines, emphasising that timely completion of processes is pivotal to concluding the debt restructuring process successfully. “The Government views this as a critical step toward achieving economic stability and setting the stage for recovery,” he explained.

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