Sri Lanka seeks experts’ advice from IMF on current economic situation

Sri Lanka has written to the International Monetary Fund (IMF) seeking experts’ advice on the current economic situation in the island.

Speaking on the matter, Finance Minister Basil Rajapaksa stated that Sri Lanka expects IMF representatives to visit the island soon.

He revealed this while responding to a question from a reporter during an event held today (02).

Asked whether the Sri Lankan government is in discussions with the IMF, he said: “That too is a forbidden word. No such thing has been done officially.”

However, he said that they have sought the ‘expert knowledge’ of the IMF, which he said is an institution that exists to advise countries in crisis. 
 
He said that there is an agreement with regard to the Japanese government providing the necessary funding and this has been confirmed by the IMF.

Rajapaksa said an IMF team will arrive in Sri Lanka “in the next few days and advise us on how to deal with the situation”.

“I can’t say whether we will accept their advice or not, but they will tell us what we don’t know,” he added.

And he signalled that the government could seek a bailout from the Washington-based institution.

“We need to find out what their conditions are,” said the Finance Minister. “Even when we try to get a housing loan, we first find out the conditions of the bank.”