No need for IMF support: Nivard

Money, Capital Markets and Public Enterprises Reform Minister Nivard Cabraal yesterday reiterated that there was no need for Sri Lanka to go to the International Monetary Fund (IMF) for support.

“With due respect to the IMF, at present, in the interest of all stakeholders, there is no need for us to seek support,” Cabraal told journalists yesterday.

“With our plan and new initiatives, Sri Lanka will not default but maintain its impeccable track record of debt servicing,” he added.

He was responding to suggestions by the Opposition as well as certain economists that the only way out for Sri Lanka from the foreign reserves and debt crisis was to seek support from the IMF.