INSUBCONTINENT EXCLUSIVE:
stated that the next step is to submit a report on debt restructuring.Wickremesinghe stated this while delivering a special statement in
Parliament on Tuesday (05) regarding the progress of negotiations with the IMF.Sri Lanka has so far held several rounds of negotiations with
the International Monetary Fund.Meanwhile an IMF team had visited Sri Lanka last month for talks on a bailout program
Minister Ranil Wickremesinghe told lawmakers that recent discussions with a visiting IMF mission were fruitful but not as straightforward as
But this time the situation is different from all those previous occasions
We are now participating in the negotiations as a bankrupt country
Only when they are satisfied with that plan can we reach an agreement at the staff level
sustainability report to be submitted in August.Discussions are underway with India, Japan and China to form an aid consortium once a
staff-level agreement with the IMF is reached, Wickremesinghe said.Sri Lanka suspended repayment on foreign debts worth about $7 billion
that were due this year because its foreign exchange levels fell to record lows
year.Wickremesinghe said the Central Bank is forecasting an economic contraction of 4% to 5% this year
longstanding problems of economic mismanagement
He said one government target was to achieve minus 1% growth by the end of next year.Wickremesinghe presented the road map with proposed
will have to pay USD 3,489 million in debt.He said that the debt will be USD 5,862 million in 2023, USD 4,916 million in 2024, USD 6,287
This is where our debt burden lies
By March 2022, it will be Rs
This is the real situation
We are looking to make it 14% by 2026
way for that.Speaking further, the Prime Minister said that he is ready to provide NPP leader Anura Kumara Dissanayake with the opportunity
if there is a possibility to recover the economy within 06 months as claimed by the latter.-With agencies inputs
This article first appeared/also appeared in https://adaderana.lk
