INSUBCONTINENT EXCLUSIVE:
Prime Minister Ranil Wickremesinghe says a staff-level agreement with the International Monetary Fund (IMF) and the programme for a bailout
Monday (June 20) and are going on for 10 days
PM Wickremesinghe met with the visiting IMF delegates who arrived on the island for talks on a bailout programme as Sri Lanka is battling
In fact, this is our only option
the initial discussions with the IMF delegation and exchanged ideas on various sectors such as public finance, finance, debt sustainability,
is expected to be finalized by the end of July following discussions with the financial and legal advisory firms Lazard Ltd
advisors on debt restructuring as the country seeks a bailout from the IMF.Speaking further, the Premier said three high ranking officials
of the Indian government are scheduled to arrive in Sri Lanka tomorrow (June 23) for discussions regarding the loans offered to the island
arrival of these three teams in Sri Lanka
We will conduct lengthy discussions with them
Their presence in the country will now allow us to hold meetings together with all three teams
Corporation is USD 700 million in debt and that no country or organisation in the world is willing to provide fuel to Sri Lanka as a result
meet its monthly fuel needs
As a result of this, we will take steps to import the maximum fuel stocks possible based on our dollar income
Resolving the fuel shortages will take more time
conflicts and disagreements between us in the recent past
We are working towards resolving these and fostering friendly relations once again
discussions with the World Bank, Asian Development Bank, the United States, other friendly nations and heads of state to secure interim
short-term loans till we receive IMF support
We will be able to lay the foundation to ensure economic stability following the successful completion of these tasks
But this by no means will be the end
In fact, it will be the beginning of our journey
This article first appeared/also appeared in https://adaderana.lk
