State Finance Minister speaks out on loan expected from IMF

State Finance Minister speaks out on loan expected from IMF

State Finance Minister speaks out on loan expected from IMF

Written by Tharushan Fernando

24 Apr, 2016 | 10:00 pm

Speaking to News1st, State Minister of Finance Lakshman Yapa Abeywardena said the government is expecting a substantial loan from the International Monetary Fund, by June.

State Minister of Finance, Lakshman Yapa Abeywardena stated that there is confidence in regard to receiving an amount of 1.5 billion dollars as a loan from the International Monetary Fund.

He added that this will be completed in about two months. He stated:

We would receive the loan before the month of June, and that the International Monetary Fund does not pressurize countries like in the past.

“At this moment they are asking us how we are managing our economy’, said the Minister who pointed out that government spending has to be reduced and the institutions running at a loss muss reduce there losses by changing the management methods in those institutions and restructuring them.

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