June 24, Colombo: Sri Lanka government today said that they are currently feeling no strong urgency to obtain the US $ 1.9 billion controversial loan from the International Monetary Fund (IMF).
Responding to a question raised by the opposition at the House this morning, Finance and State Revenue Minister Ranjith Siyambalapitiya said the clear increase in the foreign reserves of the country is the main reason for the situation.
Minister Siyambalapitiya added that the peaceful environment in the entire country, created by the conclusion of the war, has resulted in the rise of foreign reserves.
“The neediness of obtaining the loans from IMF is now falling off slowly,” the Minister pointed out.
According to Minister Siyambalapitiya, if the government wants to get loans from the IMF in future, there is no need to agree to the hard conditions set by them.
Sri Lankan government has sought a US$ 1.9 billion loan from the IMF in March to fund the resettlement, rehabilitation, and reconstruction work in the Northern Province.
The IMF has however delayed the release of the loan due to the pressure applied by the United States against granting the loan.
US Secretary of State Hillary Clinton blocked the loan in May saying that it “is not an appropriate time to consider the IMF loan until there is a resolution of the conflict” in Sri Lanka.
LankaPage.com