President Ranil Wickremesinghe has commenced making a special statement in Parliament on the status of the economy of Sri Lanka.
He told Parliament that Sri Lanka expects to enter into an agreement with creditor nations such as India, China & Japan as soon as possible in order to facilitate Debt restructuring.
Japan has also agreed to assist Sri Lanka in the debt restructuring process and to co-chair the summit in negotiating with the debtor countries.
The President also informed Parliament that the Asian Development Bank had agreed to provide Sri Lanka a loan of USD 500 Million.
President Wickremesinghe said it was important to formulate a plan in order to negate the effects of soaring global inflation in 2023 including the rising prices of fuel.
He called on everyone to come together to rebuild the economy instead of waiting for the economy to collapse.
Mr Wickremesinghe affirmed that the country was returning to normalcy, citing that people need not stay in queues to obtain LP gas or fuel and that there were no 12 hour long power cuts in the country.
Parliamentarian MA Sumanthiran asked the President on what steps are taken to address corruption as the IMF had stated that corruption susceptibility is a challenge in the staff level agreement.
The President had informed the House that the Minister of Justice is in the process of formulating new legislation to tackle corruption.
Mr Wickremesinghe had also stated that the Government will look into the possibility of having the team of experts involved in debt restructuring process, present to party leaders of progress made with regard to the same.
President Wickremesinghe assured in parliament that all steps have been taken to provide fertilizer & seeds required for upcoming Maha season.