PM welcomes G7 decision to assist crisis-burdened Sri Lanka

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Prime Minister Ranil Wickremesinghe has welcomed the G7 announcement that they will assist Sri Lanka in securing debt relief as the country struggles against its worst economic crisis.

The Group of Seven, comprising of the UK, Canada, France, Germany, Italy, Japan and the United States, announced yesterday (19) that they will assist Sri Lanka in securing debt relief.

G7 countries said they were committed to finding long-term solutions for the island nation and urged it to “negotiate constructively” with the International Monetary Fund (IMF) on a potential loan programme.

The IMF is expected to conclude technical talks with Sri Lanka on the said loan programme, aimed at resolving the dire economic crisis faced by the South Asian country, on Tuesday (24).

The debt-burdened island nation is experiencing its worst economic crisis since it won independence in 1948 as shortages of essential goods have triggered social unrest.