Sri Lanka’s dollar crisis will be over once the IMF’s executive board approves the USD 2.9 billion bailout package, said Central Bank governor Dr. Nandalal Weerasinghe.
That will ensure that the country has enough foreign reserves for the import of essential commodities, he said.
With the approval of the IMF facility, Sri Lanka will also gain trust from investors to open up approaches for forex inflows and investments, said the CBSL governor.
Meanwhile, finance state minister Shehan Semasinghe expressed confidence the IMF executive board would approve the bailout package at its ex-co meeting today (20).
Speaking to the media, he said Sri Lanka has already fulfilled the eligibility criteria to receive it.
Support of the IMF is crucial to ensure transparency in state finances as well, he also said.