Dr. Harsha de Silva expressed his latest views on IMF borrowing. Accordingly, he says the debt restructuring process in the country will not be easy.
He also pointed out that Sri Lanka will have to wait until the end of this year to obtain a loan from the International Monetary Fund.
He said talks at the IMF staff level would begin in the next few weeks, after which a staffing agreement would be signed, which would take about a month.
Dr. Harsha de Silva further stated that in order to obtain the financial facility, the approval of the International Monetary Fund has to be obtained and for that many changes have to be made in Sri Lanka and accordingly the government has to consider increasing the revenue, reducing the expenditure and subsidies.