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Government vary about looming financial crisis declines to seek IMF assistance.
November 16, 2021
Sri Lanka is in the grip of a severe financial crisis, several members of the Cabinet have pointed out during the weekly meeting. They believed that Sri Lanka must seek the assistance of the International Monetary Fund (IMF) to overcome the present predicament.
The Dollar shortage had invariably affected the fuel imports, Minister Udaya Gammanpila has said.
He has also said that it has affected the importation of essential medicinal drugs to the country.
The Ceylon Petroleum Corporation will only be able to foot the country’s fuel bill up to next February. The minister has elaborated.
The only alternative he has pointed out is to seek the assistance of the IMF. However, Minsters Vasudeva Nanayakkara and Banduala Gunawardene differed in their opinion, saying it would cause further problems since the government would have to adhere to the conditions of the IMF.
“We cannot go back to the people if we adopt their conditions,” they said.
Finance Minister Basil Rajapaksa also painted a dismal picture saying that if the food production falls drastically beyond, expectations the government may have to import not only medicinal drugs and fuel but food also.
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