“Sri Lanka is currently experiencing the worst economic crisis – President Ranil “

President Ranil Wickramasinghe says that Sri Lanka is currently experiencing the worst economic crisis.

In an interview with the American Wall Street Journal, the President has stated that the stalled negotiations with the International Monetary Fund will be completed after political stability is established.

President Ranil Wickramasinghe has mentioned that Sri Lanka’s economy has already reached its lowest level, and even if the economy can be brought back to normal, everything depends on the speed of reaching that goal.

Sri Lanka may have to experience high inflation, queues for fuel and gas for a few more months and the President has also mentioned that Sri Lanka’s economy may improve significantly in the next few months.

He also says that he expects that the negotiations with the International Monetary Fund will reach an agreement at the end of August. He has pointed out that further negotiations should be conducted between the sovereign bond holders and the bilateral credit holders.

Mr. Ranil Wickramasinghe says that in order to provide loan facilities from the International Monetary Fund, the approval of the fund must be obtained for the primary level agreements and it will take several months.

Also, the President has mentioned that this is not the best opportunity for former President Gotabaya Rajapaksa to return to the island. He has further indicated that a political crisis may arise once again through the arrival of the former president.

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