A number of conditions have been imposed on Sri Lanka for obtaining an IMF loan.
The International Monetary Fund has said that Sri Lanka will not be able to provide the loan amount requested if the conditions are not met.
It has also been requested that the countries that have given loans to Sri Lanka officially confirm in writing that they support Sri Lanka’s debt restructuring.
Terms of IMF
The International Monetary Fund has said that Sri Lanka will not be able to provide the loan amount requested by countries like China, India and Japan, which have given loans to Sri Lanka, until they provide written guarantees.
At the same time, it has been said that the countries including the United States, which are members of the Paris Club, and other member countries should give assurance.
Further demands of the IMF
Subsequently, the Central Bank of Sri Lanka should be converted into an independent institution through an Act of Parliament and the electricity tariff should be increased.
Board of Directors of IMF
It has been said that the said conditions and demands should be fulfilled before the meeting of the directors of the International Monetary Fund to be held in the second week of January.
It has been said that the International Monetary Fund will make efforts to provide Sri Lanka’s proposed loan if the conditions set by the IMF are met.