Minister of Environment Mahinda Amaraweera says Sri Lanka will have to seek the assistance of the International Monetary Fund.
Speaking to media this morning, Minister Amaraweera said there is nothing wrong with seeking IMF assistance in view of the current situation in the country.
The Minister said the country has no other option but to seek assistance from the IMF, adding however not all conditions of the IMF will be agreed with.
He said the country is facing a dollar crisis and issues with paying foreign debt with reserves depleting.
Minister Amaraweera said the final decision will be reached during the meeting of the Cabinet of Ministers which will be attended by the Secretary of the Treasury and the Governor of the Central Bank of Sri Lanka.
He said the country must also seek assistance from allies to obtain financial aid at lower interest rates.
On a separate note, the Minister said immediate solutions must be sought based on past political and social developments as experts have already predicted that there will be a food shortage in future.
He said former Prime Minister Sirimavo Bandaranaike assembled separate procedures to enforce the agriculture industry when such a situation was predicted in 1972.
Minister Amaraweera said the subject Minister during the Presidency of Chandrika Kumaratunga, DM Jayaratne, launched a campaign to strengthen the agriculture industry.
The Minister said the “Api Wawamu – Rata Nagamu” programme was similarly launched by former President Maithripala Sirisena, during his term as the Agriculture Minister, during Prime Minister Mahinda Rajapaksa’s term as President, to strengthen the agriculture industry.