Central Bank Governor, Ajith Nivard Cabraal, who insists that a home-grown solution is the key to address Sri Lanka’s debt issues, says IMF involvement and debt restructuring are not required. International investment banks have been told that Sri Lanka is willing to settle the debt maturing in January ahead of time, the Central Bank governor revealed. “A programme with the IMF enables Sri Lanka to get budget support from the World Bank and the Asian Development Bank,” Prof. Devarajan said further. The support of the IMF to this programme will be a signal of confidence to the international community, he pointed out adding that it is time for Sri Lanka to start debt restructuring. Meanwhile, former Prime Minister and Leader of the United National Party, Ranil Wickremesinghe warned of an imminent crisis.

Source: The Nation September 26, 2021 19:30 UTC