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Crisis-hit Sri Lanka to present debt restructure plan to IMF by August

Sri Lankan Prrime Minister Ranil Wickremesinghe gestures during an interview ith The Associated Press in Colombo recently.

Sri Lankan Prrime Minister Ranil Wickremesinghe gestures during an interview ith The Associated Press in Colombo recently. | Photo Credit: AP

Crisis-hit Sri Lanka will present to the International Monetary Fund by the end of August a plan to restructure its debt, Prime Minister Ranil Wickremesinghe told parliament on Tuesday, July 5, 2022.

The country of 22 million people is unable to pay for essential import of food items, fertiliser, medicines and fuel because of a severe dollar crunch.

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Speaking after a recent visit by an IMF delegation, the Prime Minister said the government hoped to get approval for a four-year funding programme, as he outlined a road map to carry Sri Lanka out of its crisis.

Last week, the IMF said talks with Sri Lanka had been "constructive", raising hopes it would soon grant preliminary approval for a desperately needed financial support package.


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Printable version | Aug 10, 2022 12:15:32 am | https://www.thehindu.com/news/international/crisis-hit-sri-lanka-debt-restructure-plan-imf-august/article65602170.ece