As the Sri Lankan government engages in internal talks to address the current financial crisis, it has received cabinet approval to seek funding from the International Monetary Fund.
The Colombo media has published this news quoting a senior government minister.
Another source said that there was a problem in obtaining funds from the International Monetary Fund due to strong opposition from cabinet ministers and senior central bank officials.
They fear that if they receive large sums of money from the International Monetary Fund to deal with the immediate financial crisis, they will lose some of the development projects currently being undertaken by China.
Some senior ministers have said the situation will create other pressures from the Chinese government.
However, it has been announced that a final decision on how to overcome the financial crisis and receive funding from the International Monetary Fund will be taken at the next Cabinet meeting on January 3.
According to government sources, the decision will be taken in consultation with top officials of the Central Bank.
A number of top officials, including the central bank governor and the treasury secretary, have been summoned to the cabinet meeting on January 3, a minister said.
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