Ranil Wickremesinghe, Dissanayake’s president, secured the rescue, which includes the repayment of a US$ 2.9 billion mortgage over four decades.
In his first handle to congress, after his National People’s Power group won a landslide at the Nov 14 vote, Dissanayake backed the IMF deal on Thursday, marking a U-turn from his vote commitment.
Dissanayake’s political success was largely due to her dissatisfaction with standard officials who were held accountable for the economic collapse.
Dissanayake claimed that managing the business was incomprehensible.
According to Breuer, the new government’s commitment to fight corruption does “reinvigorate management reforms”, recover financial confidence, and generate growth more powerful and diverse.
Sri Lanka will now be able to draw down US$ 333 million, content to IMF table endorsement, by the end of the year.
Next month, Dissanayake’s interim government signed off on a controversial reform of US$ 14.7 billion in foreign commercial breaks hesitantly agreed by Wickremesinghe.
The debt restructuring is a crucial IMF need to recover the island’s economy, which shrank 7.8 per share in 2022, its worst performance always.