Sri Lanka and the Monetary Fund international (IMF) start official talks next months, said a spokesman for the cabinet on Tuesday, as government tries to keep off the island nation’s worst economic crisis in years amid growing protests.
“Sri Lanka will begin formal talks with IMF next months,” spokesman Ramesh Pathirana told reporters, signaling the end of months of reluctance of President Gotabaya Rajapaksa government ask for help from global lender.
Pathirana said that the government will firm up up son plans on IMF assistance in coming weeks as Finance Minister Basil Rajapaksa prepares to hold talks with the financial institution in washington d.c. in half April.
Sri Lanka’s foreign exchange reserves are down 70% in the last two years to about $2.31 billion and the country is struggling pay for essential imports, including food and fuel.
A devaluation of his currency last the week has fueled again already soaring inflation and brought more plight of ordinary Sri Lankans who treated with rolling power fuel cuts and shortages.
In order to manage the rapidly deteriorating situation, Finance Minister Rajapaksa flew to New Delhi on from Tuesday to sign a $1 billion line of credit to pay for essential imports.
Corn public anger in the island nation of 22 millions people grows. Tuesday, Sri Lanka main opposition party plans organize a large protest march in Dove, with supporters must be transported by bus in from countryside.
At social mediatoo, discontent against the government was obvious with many users using the #GotaGoHome hash tag for attack President.
