Sri Lanka Crisis: On getting the country out of the economic crisis, the President of Sri Lanka said, getting the support of the IMF is the only option we have

Sri Lanka Crisis: Sri Lankan President Ranil Wickremesinghe said, ‘We are well aware that the country’s economy has collapsed.

Sri Lanka Crisis: Sri Lanka is going through a big economic crisis at the moment. Due to which people are very angry. Meanwhile, a big statement of Sri Lankan President Ranil Wickremesinghe has come to the fore. Wickremesinghe said the only option for the island nation to emerge from this crisis is to seek International Monetary Fund support.

Ranil Wickremesinghe said, ‘We are well aware that the country’s economy has collapsed. So I know the difficulties faced by the country. We have seen a decline in the number of employment. Inflation has notably increased the cost of living. Hence, the lifestyle of the people is changing.

The only option left with us is to seek IMF support: Sri Lankan President

Sri Lankan President Ranil Wickremesinghe held a meeting with trade union representatives at the President’s Office on Friday afternoon. During this, Wickremesinghe said that the facilities that Sri Lankans enjoyed earlier are diminishing, as the dire economic situation in the country has affected every sector including education and health. These are the consequences of this economic collapse, it is useless to talk about the root causes of these issues, as they have already happened. The only option left with us now is to seek the support of the International Monetary Fund. Otherwise, our situation cannot improve.

Economic growth is now slowing down in Europe and America: Ranil Wickremesinghe

Ranil Wickremesinghe insisted that he was trying to revive the country’s collapsed economy with the help of a debt restructuring programme. He said that we are currently doing a debt restructuring program. We have already completed negotiations with Japan, which is one of the three main countries, Japan, China and India from whom we have availed line of credit. Furthermore, Wickremesinghe said that economic growth in Europe and the US is now slowing down. “In such a situation, our export market may collapse by next year and we will have to develop our tourism industry,” he said.

During Friday’s meeting, trade union leaders and representatives from the government, semi-government and private sector participated to discuss the corrective measures that can be taken to find solutions to the economic and financial crisis prevailing in the country. He further said that the government as a country has been able to build trust and has been able to make the dialogue with the International Monetary Fund more successful.

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After the Taliban occupation, the Afghan school reached the verge of closure, then India extended a helping hand, then the future of the children started improving.

Stating that the country’s economy is expected to improve after the first quarter of this year, the President expressed confidence of achieving better economic progress in 2024. The Sri Lankan President said that not only the public sector, but the private sector should also be strengthened. It is necessary to provide relief to the people while continuing with the development programs of the country.

President Wickremesinghe further said that he is aware of the difficulties people are going through today. He said that he would somehow provide relief to the public.

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