Sri Lanka facing ‘great danger’, IMF talks to restart: President

by | Aug 3, 2022 | World

Ranil Wickremesinghe makes the remarks during his speech to open a new session of the parliament in the crisis-hit nation.Sri Lanka will restart bailout talks with the International Monetary Fund (IMF) in August, its new president says, calling on the legislators to form an all-party government to resolve the country’s worst economic crisis in 70 years.
President Ranil Wickremesinghe made the remarks during his speech to open a new session of the parliament on Wednesday.
Wickremesinghe has been leading talks with the IMF to secure a four-year bailout programme that could provide up to $3bn. He told parliament the negotiations were progressing but did not provide a timeline for when a deal would be finalised.
The 73-year-old, who was propelled to power last month after his predecessor Gotabaya Rajapaksa was forced to flee the country and resign after months of protests, said the financial meltdown had turned into a serious political crisis.
“Today we are facing an unprecedented situation that our country had never faced in recent history,” he said. “We are in great danger.”
Wickremesinghe said constitutional amendments were required to curtail presidential powers – indicating he would meet a key demand of protesters who forced out Rajapaksa.
“The president of a country does not have to be a king or a god who is exalted above the people. He or she is one of the citizens,” he said.

The president said the only way to escape the crisis was “if we all face this challenge together as one people,” and asked all parties in parliament to join his initiative for a “unity government”.
He added that his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export econ …

Article Attribution | Read More at Article Source

Share This