Sri lanka News – Sri Lanka former prime minister Ranil Wickremesinghe has requested in immediate debate on the (International Monetary Fund (IMF) report in parliament.
“It is of the utmost importance the government presents their plan with regard to the report. Parliament must discuss the report as the government has chosen to engage the IMF for financial assistance,” a statement from the opposition United National Party (UNP), which Wickremesinghe leads, said on Sunday (27).
Sri Lanka is battling one of the worst economic crises in the country’s history, with fast-depleting forex reserves leading to shortages of essentials including fuel. After months of contradictory statements, the government has finally expressed its intent to engage the IMF as a way out of the crisis.
UNP leader Wickremesinghe has repeatedly been requesting that the IMF report on Sri Lanka be made available to parliament, to which Finance Minister Basil Rajapaksa said the government was only in possession of a draft report which could not be released until it was finalised.
Releasing its report on Saturday (26) after annual Article IV consultations, the IMF said if money printing is continued Sri Lanka can default in the near term as well as undergo an economic shock.
Sri Lanka debt has near term risks, SOE borrowings could add to crisis: IMF report