“Financial burden on people would reduce after IMF approval” | Daily News

“Financial burden on people would reduce after IMF approval”

State Minister of Finance Shehan Semasinghe, stated that after the approval granted and the support given from the IMF, and the support from the bilateral and multilateral relationships, the government can assure that the burden over people due to the economic crisis would be reduced.

The State Minister stated that the President, the Ministry of Finance, the Central Bank of Sri Lanka, and all other institutions are at the last phase of getting the approval and the support from the International Monetary Fund (IMF).

Accordingly, the state minister stated that all arrangements have been made to obtain the necessary financial support for the country by obtaining the necessary approvals from the Board of Directors of the International Monetary Fund.

“According to the staff level agreement made in the year 2022, and according to the results of the various reforms carried out with the aim of stabilizing the financial situation in this country, it is necessary to get the approval of the International Monetary Fund. Accordingly, we believe that there will be a possibility of getting this approval in the first quarter of this year.”

“We are confident that we will take the necessary steps that need to be completed. Various criticisms were made about the government, insulting statements were made, and various statements were made to break the stability of the financial market as per the agreements made with the International Monetary Fund, but facing all of that, we are at the final stage of achieving.”

“Our goal is to get the approval and support from the IMF. The positive results of the commitment of the President, Ministry of Finance, Central Bank, and other relevant authorities, are now being received. 

Accordingly, a lot of work has been done for the final agreements including certifications from official creditors, and the negotiations with them also are at a successful level. Just as we receive the good news, the President will make a statement on that.” State Minister added.

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