In his first address to the new parliament, Sri Lanka's new leader Anura Kumara Dissanayake says the economic recovery is too fragile to take risks.
In his first address to the new parliament, Sri Lanka's new leader Anura Kumara Dissanayake says the economic recovery is too fragile to take risks.Sri Lanka's President Anura Kumara Dissanayake waves as he leaves after attending the opening of the new session of parliament, in Colombo, Sri Lanka, November 21, 2024. / Photo: Reuters
Sri Lanka went to the IMF for a rescue package after the country defaulted on its $46 billion external debt in April 2022 during an unprecedented economic meltdown. Dissanayake's National People's Power party had said it did not agree with the International Monetary Fund's debt assessment and would renegotiate the bailout programme.
"This is not the time to discuss if the terms are good or bad, if the agreement is favourable to us or not... The process had taken about two years and we cannot start all over again," he said. Dissanayake's interim cabinet last month signed off on a controversial restructuring of $14.7 billion in foreign commercial credit tentatively agreed by predecessor Ranil Wickremesinghe.
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