Seeking IMF expert advise is a routine program – Cabraal

Seeking IMF expert advise is a routine program – Cabraal

Seeking IMF expert advise is a routine program – Cabraal

Written by Zulfick Farzan

03 Feb, 2022 | 9:18 am

COLOMBO (News 1st); Sri Lanka’s Central Bank Governor Ajith Nivard Cabraal says comments on seeking IMF expert advice is a routine program.

In a tweet, Cabraal said ” Finance Minister’s comments that Sri Lanka informed the International Monetary Fund to provide expert advice on the economic situation is about a routine Technical Assistance Program on Macro-Fiscal capacity building for MOF’s new Macro-Fiscal Unit.
“Nothing else,” he added.

However, Sri Lanka has sought technical advice from the International Monetary Fund (IMF) in better managing the debt servicing as well as boosting foreign reserves, Finance Minister Basil Rajapaksa revealed on Thursday (3).

He said the IMF in writing agreed to extend support to Sri Lanka following a request.

“We have not made it official yet, but we have requested their assistance by providing their expertise. Because the IMF is the internationally established organization to advise countries that are in crisis,” Basil Rajapaksa, the Finance Minister said in response to questions raised by journalists during a media briefing on Wednesday night (Feb. 2).

Whilst pointing out that the Government of Japan has agreed to provide the necessary funds, the Finance Minister said the IMF has responded with confirmation in this regard; “We requested them for assistance and we need money for this. The Government of Japan has agreed to provide the required funds. The IMF has responded to us with confirmation on both matters.”

Finance Minister Basil Rajapaksa expressed hope that IMF officials will arrive in Sri Lanka soon.

Latest News

Are you interested in advertising on our website or video channel
Please contact us at [email protected]