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Ranil says Sri Lanka is broke as a country
20 Sep, 2022
President Ranil Wickremesinghe says Sri Lanka is broke as a country.
He said that Sri Lanka will need 25 years from now to 2048 to repay what Sri Lanka has borrowed.
?It?s not a secret that we are all broke as a country. We have to pull ourselves up by our bootstraps. We have already started discussions with the IMF and staff level agreement is there. We have to talk to India, China and Japan and to the private creditors. While we look at our issues of debt, we also have to repay what we have borrowed. This means we need 25 years from now to 2048. Then we will be 100, by then will be a prosperous society,” the President said.
He expressed these views at a meeting with the Sri Lankan diaspora in the UK.
A delegation from the International Monetary Fund (IMF) was in Sri Lanka for talks recently, during which a staff level agreement was also reached.
IMF Managing Director, Kristalina Georgieva briefly noted the issue in Sri Lanka during a discussion with Centre for Global Development President, Masood Ahmed.
?So, on Sri Lanka, there are three large creditors, Japan, India, China. We are very hopeful to see an engagement from the public side that comes quickly. And then, of course, looking at all the parameters, bringing the private sector on board,? Georgieva had said.?(Colombo Gazette)
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