United States praises govt. for deciding to go to IMF

The United States has praised the government for deciding to go to the International Monetary Fund (IMF) to seek a rescue package to resuscitate the economy hit by foreign exchange issues and high external debt.
This was conveyed to President Gotabaya Rajapaksa when he met with US Ambassador in Colombo Julie Chung, at the Presidential Secretariat. 

“Chung praised the government’s decision to go to the IMF and said it was important for the future of Sri Lanka,” a press communiqué issued by the President’s Media Division said.

Meanwhile, Chung had communicated to President Rajapaksa that the United States Agency for International Development (USAID) would provide credit facilities for renewable energy projects in Sri Lanka. 

President Rajapaksa akin to his organic fertiliser move, which has been abandoned more or less, has made an ambitious decision to generate 70 percent of the electricity required by the country through renewable energy by 2030.

At the moment, Sri Lankans are experiencing over daily seven-hour power cuts, largely due to dry weather and diesel and furnace oil shortages for thermal power plants, as a result of the forex crunch.
Sri Lanka hasn’t built a new major power plant since 2015.