Sri Lanka to complete domestic & external debt reworking by September - President

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesighe said that the country's debt restructuring program will be completed by September 2023.

"A country becoming bankrupt means that it is a beggar nation. None of us want to become beggar nation. We approached the IMF, as we have no where else to go.," said the President adding that that discussions on the reworking of both domestic and external debt will be completed by July or August 2023.

The IMF had imposed tough conditions on us. But we had no other options. Similar conditions were presented earlier in the negotiations with the IMF. There, one previous Government withdrew from transactions with the IMF. But we have gone to the IMF and are taking the program forward with proper management, said the President as quoted by his Media Division.

President Ranil Wickremesinghe called on every Sri Lankan to contribute to creating a glorious & prosperous country free of bankruptcy.

He made these remarks while declaring open the Kegalle, Aranayaka ‘Asupini Ella water scheme’; the largest water project in the Sabaragamuwa Province.

This water scheme was implemented under the financial allocation of Rs. 3,847 million from the Government of Sri Lanka and the loan support of Rs. 18,650 million from the Government of the Netherlands, providing solutions to the drinking water problem in 135 Grama Seva Divisions belonging to Aranayaka, Mawanella and Rambukkana Divisional secretariats in Kegalle district.

The construction work of the water scheme commenced in 2018 and the work was done under the supervision of the National Water Supply and Drainage Board under the guidance of the Ministry of Water Supply and Estate Infrastructure Development.

A water treatment plant with a capacity of 21,000 cubic meters per day, 07 service reservoirs, a transmission pipe system of 37 km and a distribution pipe system of 120 km have been constructed under this scheme.

Under this project, around 169,000 people covering 52,300 families will have clean and safe drinking water facilities, under which 25,200 new water connections will be provided and 27,100 existing water connections will be improved.