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US Senate warns Sri Lanka on economic mismanagement

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US Senate warns Sri Lanka on economic mismanagement. The US Senate Foreign Relations Committee has stated that any IMF agreement with Sri Lanka must be contingent on the Central Bank’s independence, strong anti-corruption measures, and the development of the rule of law.

According to the official statement of the United States Senate Foreign Relations Committee, without these vital reforms, Sri Lanka risks continued economic mismanagement and uncontrollable debt.

The International Monetary Fund (IMF) ended its mission to Sri Lanka on June 30th and issued a statement confirming the IMF’s commitment to assisting Sri Lanka during this difficult period in accordance with IMF policy.

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