Govt. may seek IMF assistance

Referring to reports which said that a special cabinet meeting has been summoned today to decide whether the government should seek IMF assistance to get out of the economic crisis, SJB MP Harsha de Silva said it is too late for it without a restructuring of debts. 

“Restructuring of debts is a must. Government should first announce a temporary suspension on debts and should look for ways and means which will minimize the suffering of people, ”dr de Silva told a joint press conference he had with MP Eran Wickramaratne. “Government should have sought IMF assistance months ago when we suggested it,” he added. 

He said Sri Lanka’s debt services for the next six weeks is $ 1440 million which includes payments in relation to development, sovereign bonds, and other obligations which include $ 200 million development bonds and several other obligations. In addition, the SJB MP said the annualized yield of international sovereign bonds had risen to more than 180 percent. 

“Who would purchase sovereign bonds at such a rate?” he questioned. The MP said his party is willing to support the government to resolve the economic crisis for the sake of the people.