Central Bank Governor Dr. Nandalal Weerasinghe says that the dollar crisis is over and Sri Lanka has enough dollars for essential sectors.
He mentions this in an interview with The Sunday Times newspaper.
He claimed that today will see the receipt of the Board of Directors’ approval for the US$ 2.9 billion financing facility that the IMF will offer to Sri Lanka, and through this the confidence of investors will be improved, doors will be opened for more funds and investments will come.
The Central Bank Governor further stated that the first installment of nearly US$ 390 million will be received on Tuesday after the loan amount for Sri Lanka is approved.
The negotiations on the restructuring of domestic and foreign debts must be concluded by the time when the first review with the International Monetary Fund is held, according to the Governor of the Central Bank.
The Central Bank Governor also said that after the implementation of the IMF facility, there will be an opportunity to get a loan of about 4.5 billion US dollars to cover the budget deficit through the Asian Development Bank and the World Bank.
The Governor of the Central Bank also mentioned that after the implementation of the IMF facility, there will be an opportunity to get a loan of about 4.5 billion US dollars from Asian Development Bank and the World Bank to meet the budget deficit.
According to him, the economic recovery will begin in the second half of this year and Sri Lanka would be able to see positive economic growth by 2024.
