Posted 12/17/2023, 4:48:16 PM
Sri Lanka's Leader Defends IMF Deal as 'Only Option' to Address Crisis, Despite Tough Reforms
- Sri Lanka has no alternative to IMF bailout program to address economic crisis, per President Wickremesinghe
- IMF has released $670 million so far out of $2.9 billion bailout package
- Wickremesinghe defends tough reforms under IMF deal as only option, urges responsibility
- VAT raised from 15% to 18% to increase state revenue to IMF target levels
- Wickremesinghe says he negotiated with India, China, Paris Club on debt restructuring under IMF conditions