Sri Lanka economic crisis: all party conference on the cards; IMF report

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ECONOMYNEXT – An International Monetary Fund (IMF) report on Sri Lanka’s ailing economy will be made available to all MPs and party leaders before an as yet unscheduled all party conference, according to Leader of the House Dinesh Gunawardena said.

Responding to a question by former prime minister and United National Party (UNP) MP Ranil Wickremesinghe in parliament on Wednesday (09), Gunawardena said MPs will be notified of the all party conference.

Wickremesinghe requestsed that the government immediately table the report in parliament along with relevant data so that the legislature may analyse and debate it in view of the ongoing economic crisis.

Minister Gunawardena responded that the report is publicly available, but when Wickremesinghe noted that copies have only been sent to the Finance Ministry and the Central Bank, as is practise, he said copies will be made available to all MPs before the all party conference.

The UNP leader reiterated that the report be tabled this week.

The Sri Lanka staff report comes after annual ‘Article IV’ consultation held recently.

The IMF report comes after a two year gap, due to the failure to conduct the consultation during the Covid-19 pandemic.

The Article IV report contains and analysis of economy and debt and monetary conditions.

Sri Lanka is currently going through a severe economic crisis triggered by dollar shortages due to excess money printing to keep interest rates low. (Colombo/Mar09/2022)

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