Sri Lanka decides not to pursue new IMF loan-cbank
Posted by Editor on February 12, 2013 - 10:50 am
Sri Lanka has decided not to pursue a new loan from the International Monetary Fund as the global lender has indicated it may not be in a position to consider budget support to country, the central bank said on Tuesday.
The central bank said the IMF had indicated that Sri Lanka does not warrant unconventional and exceptional financial support in light of recent improvements in its fiscal situation.
“Sri Lankan authorities have decided not to pursue a new programme with the IMF, but to continue maintaining the close relationship with the Fund under standard consultation processes similar to many other member countries,” the bank said. (Reuters)
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That’s an excellent idea. We could rely on China for our development needs and shun all imperialist institutions which propogate modern day slavery with strings attached to development assistance.
On the same token, we should sever trade and political ties with India before the upcoming UNHCR sessions. India is likely to be in the forefront of the US backed international investigations into war crimes in northern and eastern Sri Lanka that is coming up at the UNHRC.
The rot that began with the Rajiv-JR “save the tamil” pact which has caused immeasurable social and economic damage, should not be allowed to eat into the soul of the nation any longer.
Finally, this is what all Sri Lankans like to see.