Second tranche from IMF gives country renewed hope for future

“The receipt of tranche two of the loan from the International Monetary Fund (IMF) has given the country a new hope for the future and marked the initial steps towards the shedding of its bankruptcy status,” Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana said.

He said that today is a special day as steps were taken to commence new development projects after a long period of time in our country, which was facing a massive economic crisis. The country stopped at a point where it was unable to fulfil many of the needs of the people after becoming unable to pay the debt.

At that time, the Government led by the President together with the Prime Minister discussed the issues at length using all the strategies and the Government was able to reach an agreement with the IMF on the programme of building the country.

After the collapse of a country in such a situation, the recovery procedures are being carried out with strict supervision, so the country was able to revive gradually after receiving the first tranche of the loan from the IMF.

Now, a situation has been created in which daily life can be maintained as normal again after ending the era of queuing for gas, fuel and essential goods. Receiving the second tranche of the loan from the IMF by the time the budget 2024 was read and passed has given the country a new hope for tomorrow and marked the initial steps to get out of bankruptcy.

The first phase of the project to widen and develop the road ‘Robert Gunawardena Mawatha’ in Kirulapane, Colombo 06, began under the leadership of Prime Minister Dinesh Gunawardena, and with the participation of Transport, Highways and Mass Media Minister recently.

The Colombo Municipal Council has allocated Rs. 250Mn for the first phase of the project and Rs. 1.2Bn will be the cost of the entire project. The plan is to complete the construction of the first phase within a period of five months. The Ministry of Transport and Highways and the Road Development Authority are providing their contribution for the preparation of the plans.

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