CBSL chief confident Sri Lanka can overcome economic crisis within 5 months

Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe says he is confident that Sri Lanka can come out of this severe economic crisis within a period of 05 months.

Speaking further, the CBSL governor said he is hopeful that people would be patient until Sri Lanka can ride out the crisis situation over the next couple of months. When asked if he agrees with President-elect Ranil Wickremesinghe’s claims that the previous government was covering up facts about the country’s crippling financial crisis, Dr. Weerasinghe said, as the governor is it not appropriate of him to comment on political matters.

Beyond that, it is in fact the responsibility of the new government to secure some short-term bridging financing to finance the import of essentials until the country receives the bailout package from the International Monetary Fund (IMF), he added. Starting from the next month, Sri Lanka will negotiate some bridging financing facilities from friendly countries such as India and China, the governor continued.

“So we need the new administration to start approaching these friendly countries to secure short-term financing so that we are able to supply essential items to the people to continue their day-to-day lives smoothly.” If India and China agree to continue to support the island nation, the situation can be improved until IMF’s bailout package is made available, Dr. Weerasinghe added.