Central Bank says there is no need for IMF assistance

There is no need of obtaining financial assistance from the International Monetary Fund (IMF) says Central Bank Governor, Ajith Niward Cabraal.

He told TimesOnline that the Central Bank was capable of managing the economy of the country and therefore there was no need to obtain financial assistance even for the upcoming year.

However the opposition ministers as well as the leader of the UNP Ranil Wikremesinghe were pointing out that Sri Lanka needed to obtain financial assistance.

Yet, the Central Bank Governor said that the central bank was taking necessary actions to manage the financial situation in the country. He explained that last year Sri Lanka was able to pay a sum of 1 billion US dollars without delay for the biggest sovereign bond that had been taken. He said that Sri Lanka is also capable of settling loans taken in the future without any delay.

He added that Sri Lanka has made a 5 per cent improvement of its economy despite the pandemic which affected the economy of the country.