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SL no longer deemed bankrupt: RW
President Ranil Wickremesinghe making a special statement on the International Monetary Board's approval for an extended arrangement under the Extended Fund Facility (EFF), said that Sri Lanka will no longer be treated as a bankrupt country.
"The IMF has certified that Sri Lanka is capable of restructuring its debt. Sri Lanka will no longer be treated as a bankrupt country," he said.
Normal economic activities can resume with this assurance, the President said. "As our foreign exchange situation improves, the restrictions placed on imports will be gradually lifted," he said. The President noted that essential goods, medicines and goods related to the tourism industry will be included in the first round.
The President expressed his gratitude to all countries that helped Sri Lanka finalize the IMF deal, including the heads of the International Monetary Fund. The President said he will make a full statement on the IMF facility in Parliament tomorrow, adding that the agreement will also be tabled in Parliament.
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