The Government has condemned the response of the International Monetary Fund (IMF) with regard to the news that Sri Lanka has been able to secure a SWAP facility of 10 billion Yuan from the People’s Bank of China.
State Minister of Finance Ajith Navard Cabraal said the IMF’s response to the USD 1.5 billion currency swap with China is quite surprising.
He said the request for Covid assistance was made by the Government from the IMF early last year at the time the Covid Pandemic started.
However, the IMF was dragging its feet in providing that facility, the State Minister said.
State Minister Cabraal said nevertheless, the Government managed to effectively provide the necessary relief and support to the Sri Lankan people.
He said the Government was also capable of maintaining a framework of sound macro fundamentals even without such financial support from the IMF. (NewsWire)