Sri Lanka in final stages of IMF talks - President

by Teena Marian 30-08-2022 | 6:48 PM

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe told the Parliament that negotiations with the International Monetary Fund (IMF) have successfully reached its final stages.

Speaking to Parliament on Tuesday (30), the President said that the discussions on debt restructuring will be held with the main countries that provide loan assistance to the country.

"The United Nations in collaboration with leading international organizations is launching a program to ensure food security. The process of providing daily needs like gas, electricity, and fuel without a shortage has been initiated. Schools have opened, and the universities are commencing their academic activities," he said.

The President stressed that Sri Lanka should prepare a National Economic
Policy for implementation continuously at least over 25 years.

"This Interim Budget forms the basic foundation for the National Economic Policy, which is envisaged to be established through the 2023 Budget," he added.

The President noted that the Interim Budget speech, the IMF agreement and the Budget 2023 will set the framework for Economic Stabilization and Revival. "Within it, we will set the Road Map."

He also noted that once the discussions with the IMF are concluded, I expect to provide the information on the same to the Parliament.