CBSL chief expresses optimism

Central Bank Governor Dr. Nandalal Weerasinghe told the media, on Sunday, that the country’s dollar crisis could be managed as the IMF was set to approve a 2.9 billion-dollar bailout package on Monday. He said that Sri Lanka now had adequate foreign reserves for imports for essential sectors.

Dr. Weerasinghe added that the IMF package would boost investor confidence and enhance the country’s access to more foreign funds and investments.

The IMF package would include budgetary support, which was a new element in IMF lending, he said. Sri Lanka started negotiations with the IMF, in 2022, following the onset of the current economic crisis.