Monday, October 3, 2022

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When I was born, SL had sufficient reserves to lend to the UK: President

President Ranil Wickremesinghe addressing the event in which the government of Sri Lanka entered a staff-level agreement with the International Monetary Fund (IMF) today (01) said he considers this to be the beginning of a new economic era where the country could be committed to a very competitive export-oriented industry.

The President noted that the beginning will be difficult, but more progresses can be made as the country moves forward. The approach will also make it easier for Sri Lanka to sustain its social services and to look after vulnerable groups, the President pointed out.

Reaching an agreement with the IMF will be a clear proof of the government’s commitment to create a better life for the people, he emphasised. The IMF’s support would be extremely important to recover Sri Lanka from the bankruptcy and the difficulty of paying foreign debt, he added.

On a personal note, the President added that when he was born, Sri Lanka had no debt and that the country had sufficient reserves to lend to the United Kingdom which was recovering from war times.

MIAP

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