June 04, 2023
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    Sri Lanka's Approval of IMF Credit Facility Signals End of Bankruptcy Status, Says President Wickremesinghe

    March 21, 2023

    In a special statement following the approval of the extended credit facility by the Executive Board of the International Monetary Fund (IMF), President Ranil Wickremesinghe emphasized that Sri Lanka is no longer deemed bankrupt by the world.

    The President further stated that the loan facility serves as an assurance from the international community that Sri Lanka has the capacity to restructure its debt and resume normal transactions.

    Additionally, the President noted that the government is working to gradually lift import restrictions on essential goods, medicines, and tourism-related goods, as the foreign exchange situation improves. He expressed gratitude to all countries that supported the International Monetary Fund agreement, as well as the heads of the International Monetary Fund and the World Bank.

    The President plans to present a full statement on the matter in Parliament tomorrow (22), and the agreement with the International Monetary Fund will also be tabled in Parliament.


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