Sri Lanka can manage current debt obligations without IMF help, says Cabraal

Nov 12, 2020 (LBO) – Sri Lanka can manage the current debt obligations without seeking the help of the International Monetary Fund (IMF), State Minister of Money & Capital Market and State Enterprise Reforms Ajith Nivard Cabraal emphasized.

Parliamentarian Rauff Hakeem asked the government to either re-profile the debt and try to go for some moratorium in the future with the support of the IMF.

Responding to the question, State Minister Cabraal told Parliament on Thursday that they have already worked out the logistics to manage the debt.

“Many people today are pushing us into the International Monetary Fund, selling the country’s resources, slashing the public service, devaluing the rupee, but we will not allow it,” Cabraal stressed.

“I have personally spoken to more than thirty groups of investors through Zoom in the recent past on this matter. We have worked out the logistics as to how we are going to manage the debt. So we are confident that we can manage that at this moment with the resources that we are having as well as with the plans that we are going to put in place.”