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Seek IMF assistance to ward off crisis – Ranil Wickremesinghe

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United National Party (UNP) leader Ranil Wickremesinghe said if the International Monetary Fund (IMF) is approached by the government, it will be possible to obtain loans from other financial institutions as well to overcome the severe shortage of dollars in the country.

The UNP leader mentioned this during a discussion held on Wednesday (25) via Zoom technology with seniors of the party.

Wickremesinghe pointed out that under the current crisis situation the world and Sri Lanka were facing, the IMF is likely not to impose

conditions such as removing people from their jobs. He said that since massive debt is to be settled by the middle of next year, there is no other alternative for the government other than seeking assistance from the IMF.

The UNP leader pointed out further that at a moment when there is a serious crisis regarding foreign exchange if the IMF is approached other international financial institutions too will come forward provide financial assistance to Sri Lanka. He said that transacting with the IMF will be a

certificate to obtain loans from other financial institutions.

Under the agreement with the IMF even if it is possible to retain the value of a dollar at 240 rupees, if the country does not transact with the IMF there is a possibility that the value of a dollar will increase to 300 Rupees, the former Prime Minister stressed.

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