IMF willing to economically support Sri Lanka, India plays a major role

Sri Lanka’s economic situation is low at this time. Political chaos has been created. Desperate to save the country from this situation, the Sri Lankan administration had earlier resorted to the International Monetary Fund (IMF) for financial assistance. However, at first they did not respond in the same way, but this time they are thinking of standing by their side. On the same day, Indian Finance Minister Nirmala Sitharaman also assured all possible help in addition to negotiating on behalf of the neighboring country at the IMF headquarters in Washington. The IMF has praised India’s role.

A Sri Lankan delegation led by Sri Lankan Finance Minister Ali Sabri has arrived at the IMF headquarters in Washington. Sabri’s aide Shamir Zavahir tweeted: “India has also approached Sri Lanka to get RFI and maybe the IMF will look into the matter.” They have been holding regular meetings with IMF officials since Monday in the hope of recovering some of the country’s almost zero money reserves, as well as the money needed to import food, fuel and medicine.

Sitharaman is now in Washington to attend the IMF-WB Spring meeting. There, she spoke to Sabri about the situation in Sri Lanka. As information holds,India has already provided over Rs 150 crore to Sri Lanka. These includes loans to buy fuel, food and medicine to overcome the current crisis immediately.

Sri Lankan President Gotabhaya Rajapaksa on Monday slammed the cabinet in the face of repeated protests. This time he proposed to bring several amendments in the constitution to ‘build a transparent administration’. This is stated in a statement issued by his office. On Monday, Rajapaksa admitted responsibility for making several wrong decisions at the economic level. However he acknowledged that he is determined to turn the country’ condition.

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