In a recent press conference themed ‘Collective Path to a Stable Country’ at the Presidential Media Centre, Foreign Affairs Minister Ali Sabry lauded President Ranil Wickremesinghe for steering Sri Lanka’s foreign relations towards a policy of non-alignment, emphasizing unity while fostering relationships with global nations.
Minister Sabry credited President Wickremesinghe’s decisions for positively impacting Sri Lanka’s foreign relations, citing the nation’s successful non-aligned policy and its ability to secure International Monetary Fund (IMF) support by extending friendship without bias.
Acknowledging diplomatic challenges, Minister Sabry highlighted how strategic decisions have redirected strained relations, particularly in the Muslim world and Japan, onto a constructive trajectory, affirming the commitment to amicable ties while safeguarding national unity.
Discussing debt restructuring intricacies, Sabry elaborated on an independent mechanism developed due to Sri Lanka’s unique position. Collaborative efforts with influential nations outside the Paris Club, including India, China, and Japan, have paved the way for a viable restructuring plan.
Sabry revealed commitments from involved countries for Sri Lanka’s debt restructuring, foreseeing an advantageous process compared to others. The imminent IMF discussion on the 12th is poised to signal international acknowledgment of Sri Lanka’s economic progress, potentially resulting in disbursement of the second tranche.
Highlighting the nation’s path towards financial independence, Sabry noted ongoing governmental efforts to steer away from bankruptcy. Strategic reduction in debt payments positions Sri Lanka for an economic advantage of US$17 billion, with plans to attract new investors for economic growth.
Looking ahead, Minister Sabry expressed confidence in the government’s roadmap, aiming for significant economic strides by the first quarter of the next year. This aligns with President Wickremesinghe’s broader vision for sustainable economic development, signaling a promising trajectory for Sri Lanka under his leadership.
