IMF would need commitment from administration - CBSL Chief

COLOMBO (News 1st); Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe says he is confident that Sri Lanka can come out of the prevalent crisis within a period of 04 – 05 months.

“We have a clear program and a clear path,” he said, adding “if we follow this path… I am confident that we can come out of this crisis… say for example in about 04 – 05 months… Until then we will have a difficult time.” Dr. Weerasinghe added he is hopeful that people would be patient until Sri Lanka can ride out the crisis situation over the next couple of months.

In an interview with CNN, Dr. Weerasinghe was of the view that the country will certainly benefit from the economic reforms being implemented and the reforms that are to be implemented in the future.

He also said that if there was continued stable administration Sri Lanka could have reached the IMF staff-level agreement within this month (July).

"But if there is a delay in forming an administration, then, of course, IMF needs a commitment from the new administration of the policies that we have presented to the IMF at the technical level. So the time of that process will depend on the new administration approach," he said.