Shehan says all bilateral creditors have emphasised their continuous support for SL

State Minister of Finance Shehan Semasinghe

State Minister of Finance Shehan Semasinghe yesterday said that all the bilateral creditors of Sri Lanka have already reiterated their continuous support in stabilising Sri Lanka›s economy.

In replying to SJB MP Dr. Harsha De Silva›s comments in the Daily FT yesterday, the State Minister said that all the countries including China and India have reiterated their continuous support on Sri Lanka›s debt treatment. 

The State Minister further said that 2023 has begun with a hope for all Sri Lankans that in this year, everyone will have a better living standard.

The State Minister further emphasiesd that with the needed approvals, the IMF support would be given to Sri Lanka in the first quarter of this year.

“As I said in the earlier media briefings as well, all the bilateral creditors have reiterated their continuous support to Sri Lanka›s debt treatment and with that, we are expecting the needed approvals and the process of IMF support in the first quarter of 2023,” Semasinghe added.

Moreover, he said the IMF Managing Director Kristalina Georgieva says that the International Monetary Fund is working hard to bring a solution to the countries facing the debt crisis including Sri Lanka.

In an interview with the American CBS television (30 December 2022), she mentioned that the debt crisis faced by low-income countries has not reached a significant level to create a global crisis.

She mentioned that about 25% of the developing countries are facing debt crises and if the list of these countries grows, there is a risk of it becoming a global crisis.

“Therefore, Mrs. Kristalina Georgieva further stated that the International Monetary Fund is working hard to find a solution to the debt crisis,” State Minister Semasinghe added.