SL managing well in terms of expenses

Speaking on the progress of CBSL’s engagement with external creditors, Governor Dr. Weerasinghe said the Central Bank continues to have engagement with bi –lateral traders and has made satisfactory progress in terms of discussions relating to the IMF bailout package.

“ It is too early to mention that we would miss the December target. Even if we miss that target, we have time till January. Besides, if we can get the financial assurance from the bi- lateral creditors within the next couple weeks; we’ re optimistic that the IMF could submit their proposals to the board sooner.

“If we miss the December target, it would not be a big deal , obviously we can go to the board in January.”

Speaking further, Governor Dr. Weerasinghe stated that Sri Lanka is managing well in terms of its expenses without any kind of significant financial inflows or bridge financing since July up to now. We’re confident that we can manage the situation without any short finances or without having destabilization , or any acute shortages of essential items. To this end, Dr. Weerasinghe stated that it is essential to curtail the demand for imports.