The Foreign Relations Committee of the American Senate has said that any agreement should be reached in granting loans to Sri Lanka by the International Monetary Fund after meeting the following 3 points/ conditions.
The committee points out that it should be made mandatory for Sri Lanka to confirm the independence of the Central Bank, strong anti-corruption measures and protection of the rule of law.
The committee points out that if the necessary steps are not taken, Sri Lanka will continue to suffer from poor economic management and uncontrollable debt burden.
The relevant committee mentioned above in response to a statement by the International Monetary Fund that the new IMF program aims to restore economic stability and debt sustainability while protecting Sri Lanka’s financial stability and accelerating reforms to address corruption risks.