Follows are five key highlights from Finance Minister Ali Sabry’s press conference with Sri Lankan journalist from Washington.
- Finance Minister Ali Sabry confirms that Sri Lanka has approached the IMF for a debt restructuring program an Extended Funding Facility (EFF) for the mid term.He also confirmed that negotiations with the Governments of India & China have been extremely successful.
- He further notes that officials within the IMF have been heart warmingly empathetic & steadfast in looking for ways to assist the country in its efforts to find a sustainable solution.
- He added that the burden of proving debt sustainability is very much with Sri Lanka in securing an EFF. Upon establishing that credibility, he expressed hope that Sri Lanka might secure a Rapid Financial Instrument (RFI) for the short term.
- However, as mentioned earlier, with India & China stepping up with extensions to existing credit lines & new facilities for immediate relief, the immediate future of Sri Lanka is considerably more hopeful than before.
- Additionally, the Asian Development Bank, The Asian Clearing Union have also been approached and have confirmed willingness to partner with Sri Lanka in assistance. The governments of Japan & France have also been approached & have provided responses that are very promising.
(Government Information Department)
