INSUBCONTINENT EXCLUSIVE:
Nandalal Weerasinghe says that Sri Lanka can expect approval for the USD 2.9 billion International Monetary Fund (IMF) Rapid Financing
Greece following its financial crisis, but instead look to the success in India and South Korea following IMF bailout.In response to a
question whether it will take until March 2023 to secure the IMF bailout package, Dr
Nandalal Weerasinghe pointed out that it depends on the ability to obtain assurances from bilateral creditors, and that the creditors have
sufficient information to decide their contribution for them to determine on what kind of conclusion that they have to make towards
further mentioned that the IMF needs a maximum of 2-3 weeks to get the programme approved, adding that the approval can be obtained in
January, if the assurances are secured during this month.Crisis situations faced by India and South Korea previously are comparable to Sri
Nandalal Weerasinghe said, highlighting that those countries too have obtained similar bailout packages
But that they took correct measures and never went back to the IMF, he added.
This article first appeared/also appeared in https://adaderana.lk
