Colombo (LNW): President Ranil Wickremesinghe informed Parliament that the recent success in securing funds from international financial institutions will greatly enhance Sri Lanka’s financial sector, ensuring its complete security.
With the approval of the second tranche from the International Monetary Fund (IMF) and a $150 million extension from the World Bank for deposit insurance, additional funding for development is expected from institutions like the Asian Development Bank and JICA at favorable terms.
The President emphasised the need to maximise these opportunities for the country’s benefit, reinstating confidence for foreign investors and facilitating market expansion.
Wickremesinghe urged caution to prevent deviation from the correct course, emphasising the importance of ongoing progress to achieve economic freedom.
He outlined key objectives for revival and growth, including minimising the foreign exchange deficit, achieving trade balance, narrowing income and expenditure gaps, optimising the surplus in the primary budget account, and upholding stringent financial discipline.
