COLOMBO, Dec 6 (Reuters) - Global lenders including the World Bank, the Asian Development Bank and the IMF are readying coordinated assistance to assistance Sri Lanka retrieve from its economical crisis, the authorities said connected Tuesday.
The land of 22 cardinal radical is successful the midst of its worst fiscal situation successful much than 7 decades, caused by an acute dollar shortage that has near it struggling to wage for imports of food, substance and medicine.
President Ranil Wickremesinghe, who is besides the concern minister, presented the country's economical betterment program to representatives of the World Bank, Asian Development Bank, International Monetary Fund and Asian Infrastructure Investment Bank successful Colombo connected Tuesday, his bureau said successful a statement.
The "representatives decided that a coordinated assistance programme supported by the multilateral fiscal institutions is required for Sri Lanka to retrieve from the economical situation the state is presently facing," the connection added.
It was not instantly wide what backing enactment would beryllium extended by the organisations. The president's bureau declined further comment.
The World Bank said earlier successful the time that it had approved Sri Lanka's petition to entree concessional financing, which would besides alleviate the country's unit connected servicing debt.
Sri Lanka reached a preliminary statement with the IMF for a $2.9 cardinal bailout successful September but has to enactment its indebtedness connected a sustainable way earlier the funds tin beryllium disbursed.
Reporting by Uditha Jayasinghe, penning by Shivam Patel successful New Delhi, editing by Andrew Heavens and Raju Gopalakrishnan
Our Standards: The Thomson Reuters Trust Principles.
/cdn.vox-cdn.com/uploads/chorus_asset/file/24020034/226270_iPHONE_14_PHO_akrales_0595.jpg)
English (US)