gossip lanka

IMF board directors approval likely to stretch beyond January – CBSL governor

According to reports, we can only hope for IMF Board of Directors approval in January if we receive a financial guarantee from China this month. This was revealed in the Central Bank Governor’s explanation of the country’s economic situation, Dr. Nandalal Weerasinghe. 
“Getting our bilateral creditors to agree to a financial guarantee is a critical first step.” 
That is exactly what we are doing. I believe we have made good progress in this area. The Paris Club and India, in particular, are on our side. The President stated that the talks with China began a little late. Previously, our goal was to receive the financial certificate in November. As a result, we hoped to obtain approval from the Financial Fund’s Board of Directors in December.

But it will not happen right now. It was due to a hiccup with China. We are now concentrating on obtaining approval from the financial fund’s Board of Directors in January of next year. We can do it if we get a financial guarantee from China this month. “We are confident that we can manage this situation,” he says.