Delay in China’s positive response delays IMF bailout: Wijeyadasa

20 February 2023 02:24 pm Views - {{hitsCtrl.values.hits}} 15 Bookmark

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The delay in China's positive response in restructuring Sri Lanka’s debt has been the only obstacle in securing the International Monetary Fund (IMF) bailout at the moment, Justice Minister Wijeyadasa Rajapakshe said.

He told reporters that Sri Lanka needs the support of the IMF to secure the confidence of the international community in the country’s economy.

The Minister said suggestions were made in late 2021 that Sri Lanka should seek IMF assistance and said "We were late to seek IMF assistance as the then Central Bank Governor refused to do so," he said. (Ajith Siriwardana)

Comments - 15

Free thinker Monday, 20 February 2023 02:45 PM

A friend in need is a friend indeed. Thank you India. China looks after itself by controlling poorer countries like SL. Sri Lankans learning lessons even after 75 years of independence.

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Galkissaboi Monday, 20 February 2023 07:30 PM

If only you were learning the lessons of independence, you wouldn't be in this mess. It's time to put the begging bowl away, stop feeling you are a "special case" and instead roll your sleeves and start the hard work of being truly independent.

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johan Monday, 20 February 2023 02:55 PM

Not only China's positive response but also IMF will be looking forward for a stable govt. elected through people's mandate, who should be able manage the funds provided by them utilized in a fruitful manner and also course of action that would taken by the successive Govt.to repay same.A Welded Govt.could temporarily occupy the seats to calm down the PEOPLE'S STRUGGLE

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Ram Monday, 20 February 2023 03:16 PM

Wijedasa will never get the response he wants or the response that IMF required from China

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Ranjan Monday, 20 February 2023 03:18 PM

If all these top grade crooks are caught and forced to pay back and fined else put behind bars, will we need IMF?

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Kev Monday, 20 February 2023 04:11 PM

Waiting for NPP to come to power. Then they can have the whole country. The longer IMF takes to approve the better their chances.

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kamal Monday, 20 February 2023 05:12 PM

Before giving further loans to this country, IMF should seek for accountability for any money lent.

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Suresh Monday, 20 February 2023 07:47 PM

. China will not give positive response to IMF. Sri Lanka will not be able to borrow from IMF and come out of its debts. Economy will slump further. There is light at the end of the tunnel but it is that of a bullet train coming towards you. Sad.

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Jamis Monday, 20 February 2023 07:58 PM

Countries don't give loans for free. China is no different from other countries. They expect loans to be paid back. And China is not a rich country. Their per capita income is very low. I would love China to say, sure, you can keep the money! But that happens in dreams. We lived beyond our means for decades and we are bankrupt. There is no point blaming others for our mistakes. We are the ones who elected these crooks. We have to now pay the price. Wall Street bankers to whom we owe the biggest amount of loans have already sued us in US courts. In SL, because the media keeps repeating the US propaganda, we all seem to think that this is China's fault. People need to get more educated by reading different sources.

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Eper Monday, 20 February 2023 08:27 PM

Galkissaboy is very corrrct.We are shameless Lazy beggars who are not interested in finding a solution to the economic crisis

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SK Kumara Tuesday, 21 February 2023 05:41 AM

IMF isn't giving money away on first come first serve basis, SL need to ensure there is a proper payback plan without taxing working class to death. Do we have such plans ? SL also must be politically stable and revoke the existing PTA completely and reduce the government waste. No pageantry and glory by the elected officials period. These actions have only proven poor judgement and mismanagement of the elected officials. NO IMF until our discipline is restored.

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P. Wijenayake Tuesday, 21 February 2023 06:57 AM

Obviously, China is not happy with a IMF bailout. IMF must appoint their own representative in Sri Lanka to monitor the funds in the right direction to avert misuse.

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Sambo Tuesday, 21 February 2023 08:44 AM

As usual when you don't want to say the truth each one comes out with different stories. The president one, the minister one which contradicts each.

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Seqi Tuesday, 21 February 2023 09:52 AM

It was your governments delay in applying to IMF that put us in this mess. Go figure.

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S.Sivarajah Wednesday, 22 February 2023 06:14 AM

Why China or IMF ask the politicians who have money hoarded outside the country.and the Clergy who want to be always advising them on the treatment of minorities they sure have money or the know-how on how to beg for money

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