State Minister of Finance, Capital Markets, and State Enterprise Reforms Ajith Nivard Cabral says the International Monetary Fund (IMF) response to the news that Sri Lanka has been able to secure a SWAP facility of 10 billion Yuan (USD 1.5 billion) from the Peoples Bank Of China is quite surprising.
“The request for the Covid assistance was made by the Sti Lankan Government from the IMF early last year at the time the Covid pandemic started. But the IMF was dragging its feet in providing the facility,” he said issuing a statement.
“Nevertheless, the Government managed to effectively provide the necessary relief and support to the Sri Lankan people as well as maintain a framework of sound macro fundamentals and even without such financial support from the IMF.”