Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Asia-PacificMarch 28 2022

Sri Lanka’s game plan for recovery

In the face of the worst debt crisis in decades, the government is taking action and reaching out to international donor agencies for assistance. Duruthu Edirimuni Chandrasekera reports.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Sri Lanka’s game plan for recovery

Sri Lanka’s economic future hung in the balance as the International Monetary Fund (IMF) reported on its Article IV consultation. A senior IMF official met with Sri Lanka’s finance minister, Basil Rajapaksa*, on March 14 to discuss the fund’s assessment of the country’s economy. In mid-April, the minister plans to travel to Washington DC to present Sri Lanka’s proposal to senior IMF officials, according to a senior aide to the minister.

The government has prepared a detailed plan for the country to emerge from the current economic crisis, which will entail implementing budget proposals under the current national policy framework, ‘Vistas of Prosperity and Splendour’. It has already implemented interest rate increases and floated the local currency ahead of presenting the plan to the international donor agency.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial