IMF Chief says Sri Lanka’s crisis is due to mismanagement

Friday, 27 May 2022 00:23 - - {{hitsCtrl.values.hits}}

IMF Managing Director Kristalina Georgieva

The International Monetary Fund Managing Director Kristalina Georgieva has said that Sri Lanka’s crisis is due to mismanagement.

Speaking to India’s NDTV at Davos she said that “It is breaking my heart to watch the pictures of what is happening in the country that was once quite prosperous. It is a result of mismanagement, and therefore the most important thing to be done is to put the country back on a sound microeconomic footing.”

Georgieva said the IMF will strongly support Sri Lanka’s debt restructuring process, and it will be available once the IMF has clarity on what the program will look like, and how debt can be restructured.

She also expressed gratitude to India for being such a good friend to Sri Lanka and for advocating support for Sri Lanka in this very difficult time.

IMF staff concludes 16-day virtual mission to Sri Lanka