Top diplomat warns IMF of bailing out corrupt Sri Lankan politicians instead of people in need

June 24, 2022 at 12:52 AM

Mark Malloch-Brown, the president of the Open Society Foundations, says Sri Lanka has a history of diverting aid.

He further said that the International Monetary Fund (IMF) must acknowledge the reason the country is in this mess by putting this issue on the agenda during their visit.

“Otherwise, they risk bailing out corrupt politicians instead of people in need,” Malloch-Brown warned.

His comments come in response to a Sri Lankan economist’s statement, pointing out that corrupt governance is the principal cause of the country’s economic crisis.

Economist Nishan de Mel claimed that systemic corruption in Sri Lanka has contributed greatly to the debt/economic crisis.

He further questioned if the problem will get on the solution agenda of the talks between the IMF and Sri Lankan authorities for a staff-level agreement.

A delegation of the IMF is currently in Sri Lanka, conducting necessary talks pertaining to Sri Lanka’s economic crisis.

Sri Lanka is also looking at debt restructuring in order to address the crisis. (NewsWire)