RW says IMF deal signals end of bankruptcy; to table in Parliament today

Wednesday, 22 March 2023 01:33 - - {{hitsCtrl.values.hits}}

President Ranil Wickremesinghe in a brief address to the nation yesterday said the approval of $ 2.9 billion Extended Fund Facility by the International Monetary Fund signals the end of bankruptcy status of Sri Lanka.

The President further stated that the four year loan facility serves as an assurance from the international community that Sri Lanka has the capacity to restructure its debt and resume normal transactions.

Additionally, the President noted that the Government is working to gradually lift import restrictions on essential goods, medicines, and tourism-related goods, as the foreign exchange situation improves. He expressed gratitude to all countries that supported the International Monetary Fund agreement, as well as the heads of the International Monetary Fund and the World Bank.

The President said he will make a full statement on the matter in Parliament today and also table the agreement in the House.

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