Ranil Says He Took Over The Titanic After It Hit The Iceberg
Date
10/31/2022 2:45:13 PM
(MENAFN- Colombo Gazette) President Ranil Wickremesinghe says he took over the Titanic after it hit the iceberg and now he is trying to move the ship off the iceberg.
He says once the Titanic is moved off the iceberg the country can move forward.
The President said that Sri Lanka has declared itself bankrupt and the government is now hoping it can reach a deal with the International Monetary Fund (IMF) for funding.
He said the Government is hoping it can reach a deal with the IMF by January.
“If we can move and come to an agreement by December, which means coming to an agreement by mid-November, and going up to the IMF Board in mid-December, we will gain a big advantage. However, I don't know whether we can do it for the simple reason that in China, the focus has started now after the party conference. However, we must aim to have it by January,” the President said.
President Ranil Wickremesinghe expressed these views while addressing the 32nd Annual General Meeting of the Sri Lanka Tea Factory Owners Association held at the Water's Edge Hotel in Battaramulla.
“We have to start talks with our creditors. I first went to the Paris Club where all the creditors were from the West and Japan. However, we are in a unique position today where out of our three main creditors, only one belongs to the Paris Club. Japan. The other two are not in the Paris Club. They are India and China. I have already started discussions with Japan and now with India and China,” the President said.
He said that Sri Lanka needs to get through this year and then go into next year and somehow manage two years.
“The next issue though, is that the price of fuel has dropped now and everyone expects the price of fuel to increase in December/January due to the Ukraine war and winter. Hence, that's the next issue that we have to face,” he added.
Plantation Industries Minister Ramesh Pathirana, Chief Executive Officer of A. Baur and Company (Pvt) Ltd Rolf Blazer and President of Sri Lanka Tea Factory Owners' Association Lionel Herath also addressed those present. (Colombo Gazette)
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