Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe has called for the support of the political authority, free of party differences, to formulate healthy policy decisions.
The Governor expressed his views during a meeting with the Committee on Public Finance at the Parliament complex today (24).
Meanwhile, Chairman of the Committee Parliamentarian Anura Priyadarshana Yapa recommended that a full report be submitted to the Committee on the policy decisions that will be taken in order to resolve the crisis and build a stable economy in the country moving forward.
In addition, the proposal to increase the country’s credit limit to Rs.1 trillion was approved by the Committee.
The CBSL Governor informed that USD 600 million has been allocated for projects with the assistance of the World Bank to be used to purchase essential items including fuel and gas in the future.
Meanwhile, Dr. Weerasinghe informed the Committee on Public Finance that institutions such as the Ceylon Electricity Board, the Ceylon Petroleum Corporation, and Litro Gas Lanka lack sufficient dollars owing to major losses that have been incurred.
He further stated discussions with the International Monetary Fund are currently underway adding that technical talks on a potential IMF agreement concluded today.
The Governor said the next three to four months leading up to IMF talks including debt restructuring will be a challenging period.