"The Value Of USD Could Rise To Rs. 300 If The Govt. Fails To Seek IMF Support": Former PM

November 25, 2021

Former Prime Minister and UNP leader Ranil Wickremesinghe has said that if the country goes to the International Monetary Fund to meet its acute dollar deficit, it will be able to borrow from other international financial institutions as well.

Wickremasinghe also pointed out that the International Monetary Fund would not impose conditions such ascjob cuts given the current situation in the country.

He said the government had no choice but to seek the help of the International Monetary Fund (IMF) as it had to repay nearly USD 6 billion by the middle of next year.

The UNP leader made this remark during a special discussion with party seniors this morning (25).

Wickremasinghe pointed out that at a time when foreign exchange has become a serious crisis, other international financial institutions will also come forward to lend to Sri Lanka when they go to the IMF.

Wickremasinghe said that dealing with the International Monetary Fund could be considered as a guarantee when it comes to borrowing from other financial institutions.

The former Prime Minister also pointed out that the value of a Dollar could be kept at Rs. 240 If the government chose to work with the IMF. If not it could increase to 300 rupees," he added.

© 2019 Asian Mirror (pvt) Ltd