Sri Lankans have trust in IMF assistance: State Minister of Finance

Friday, 27 January 2023 00:23 - - {{hitsCtrl.values.hits}}

State Minister of Finance Shehan Semasinghe (right) with British High Commissioner Sarah Hulton

Says despite hardships, people getting used to long-term solutions

State Minister of Finance Shehan Semasinghe said that the Sri Lankans have trust in the International Monetary Fund’s support as it would create a foundation for finding solutions for the economic crisis in the country.

He made these remarks at a discussion held yesterday at the Ministry of Finance with the British High Commissioner Sarah Hulton and a delegation.

State Minister explained how the entire Government, including the President, is working to restore the economy by making hard efforts and meeting the needs of the people in any way.

He also stated that although securing the existence of the people in the local production has become a problematic situation in this global economic situation, the international support and the commitment of the people have reached a positive level. State Minister Semasinghe pointed out that the people are facing severe difficulties in the face of the reforms that have been carried out by the Government, which are very difficult in the short-term but effective in the long-term.

He also noted that since the people have built confidence in the positive results which can be achieved by the country through the IMF and its support, the people will support long-term effective solutions.

The State Minister pointed out that since Sri Lanka is reaching a positive end in the process of obtaining financial assurances from the international creditors, it is possible to quickly complete those requirements and get the support of the IMF, and use that support as a foundation to save the country and the people from the economic crisis.

Head of International Debt and Development Finance Policy HM Treasury (HMT) Karis Aplcan – Taylor, Foreign Commonwealth and Development Office (FCDO) South Asia and Afghanistan Economist Matthew Wordingham, British High Commission Head of Prosperity Andrew Price, Deputy Secretary to the Treasury Priyantha Rathnayake, Department of Fiscal Policy Director General Dr. Kapila Senanayake and Consultant (Economics) Deshal De Mel participated in this discussion.