UK Parliament moves motion on economic aid to Sri Lanka

Conservative member of the UK Parliament Dr. Mathew Offord on Thursday moved a motion on the economic situation of Sri Lanka and how the UK could assist proactively.  Offord said the economic situation in Sri Lanka has been dire and remains so and that he was grateful to have secured this debate on the UK’s economic aid to Sri Lanka.   

“We are fortunate that the UK is already heavily involved in, and a large contributor to, many of the organizations assisting in Sri Lanka, such as the UN Central Emergency Response Fund and the World Bank. As a permanent member of the Paris Club, the UK will be heavily involved in the debt restructuring process. I hope the UK can support an early agreement on bilateral restructuring, which would release resources to revive the Sri Lankan economy,” he said.   He said it is increasingly vital that the UK uses its global influence in these organizations to assist in securing the best possible economic support for Sri Lanka and to provide debt sustainability.   

“The UK must play a constructive role on the executive board of the International Monetary Fund during the full implementation of the extended fund facility, particularly during the biannual reviews,” he said.