The best option for the country to get out of the current economic abyss is to take a loan from the International Monetary Fund, said the former Deputy Governor of the Central Bank of Sri Lanka Dr. W. A. Wijewardene.
Mr. Wijewardene also said that the International Monetary Fund imposes economic conditions when granting loans, but also imposes political conditions when obtaining loans from other friendly countries.
The former Governor of the Central Bank also said that it is better for the country’s economy to be subject to economic conditions than to be subject to political conditions when obtaining loans.
Therefore, in addition to borrowing from friendly countries, borrowing from the International Monetary Fund is also economically advantageous, he said.
Mr. Wijewardene said that even if short-term loans were obtained from countries such as China for a period of three months, they would impose political conditions if the loans were extended further, which would be detrimental to the country.
