Dec 11, 2021

Decision regarding IMF to be taken on 13th!

It is reported that a decision will be taken at the Cabinet meeting to be held on Monday (13) regarding the move to seek the assistance of the International Monetary Fund (IMF) as a solution to the acute dollar shortage in the country.

There are two views within the government on going to the International Monetary Fund, and some in the government are of the opinion that going to the International Monetary Fund should be the immediate solution to the dollar deficit.

Others are of the opinion that going to the International Monetary Fund will lead to various conditions.

It is said that a final decision will be taken after a lengthy discussion at the Cabinet meeting to be held on Monday (13) headed by President Gotabhaya Rajapaksa.

The Governor of the Central Bank Ajith Nivard Cabraal and the Secretary to the Ministry of Finance Dr. SR Attygalle have also been summoned to the Cabinet meeting on Monday to brief the Cabinet on the economic and financial situation of the country.

The country's foreign exchange reserves have fallen to about US $ 1,500 million, of which only US $ 1,100 million is in dollars, Minister of State for Finance Shehan Semasinghe told Parliament last Thursday.

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