Sri Lanka's crisis is due to mismanagement

Sri Lanka's crisis is due to mismanagement - IMF Chief

by Zulfick Farzan 26-05-2022 | 12:40 PM

COLOMBO (News 1st); International Monetary Fund Managing Director Kristalina Georgieva says that Sri Lanka's crisis is due to mismanagement.

She was speaking to India's NDTV at Davos and said that "It is breaking my heart to watch the pictures of what is happening in the country, that was once quite prosperous. It is a result of mismanagement, and therefore the most important thing to be done is to put the country back on a sound microeconomic footing."

She said the International Monetary Fund will strongly support Sri Lanka's Debt Restructuring process, and it will be available once the IMF has clarity on what the program will look like, and how debt can be restructured.

She also expressed gratitude to India for being such a good friend to Sri Lanka and for advocating support for Sri Lanka in this very difficult time