World Bank Has No New Financing Plans For Crisis-hit Sri Lanka - 9jaflaver




Light Dark

WELCOME TO 9JAFLAVER



SEARCH ANYTHING BELOW:-



World Bank Has No New Financing Plans For Crisis-hit Sri Lanka



World Bank has no new financing plans for crisis-hit Sri Lanka

July 29 (Reuters) – The World Bank does not plan to offer new financing to Sri Lanka, which is battling its worst economic crisis in decades, until the Indian Ocean nation has an adequate macroeconomic policy framework in place, the lender said on Thursday.

In a statement, the World Bank said Sri Lanka needed to adopt structural reforms that focus on economic stabilisation and tackle the root causes of its crisis, which has starved it of foreign exchange and led to shortages of food, fuel and medicines.


“The World Bank Group is deeply concerned about the dire economic situation and its impact on the people of Sri Lanka,” it said.

The bank is repurposing resources under existing loans to help alleviate shortages of essential items such as medicine, cooking gas, fertiliser, meals for children and cash for vulnerable households, it added.

The bank said it was working closely to establish control and fiduciary oversight to ensure fair distribution.


Former president Gotabaya Rajapaksa said in June that the World Bank would restructure 17 existing projects and more assistance would follow after negotiations with the International Monetary Fund on a financing loan.

Sri Lanka has been in the state of emergency since July 13 after popular protests forced Rajapaksa to flee the nation, first to the Maldives and then Singapore.

He has been replaced as president by Ranil Wickremesinghe, who was the prime minister.


 Whatsapp  Twitter  Facebook




CLICK HERE TO COMMENT ON THIS POST

CLICK HERE TO READ COMMENTS

Promote Music, Video, Comedy Skit On 9jaflaver
Call: +2348143945195 Or +2348173379226

Whatsapp: +2348143945195














Comment Below:-

Enter Name Below (Optional)

         
Enter Comment Below:-



CAN'T FIND THE SONG YOU ARE LOOKING FOR? CLICK HERE TO USE 9JAFLAVERSONGFINDER TO FIND ANY SONG YOU ARE LOOKING FOR



Promoted Songs






DMCA.com Protection Status

© 2014-2022 9jaflaver. All Rights Reserved.

About us||DMCA||Privacy Policy|Contact us

Advertis|Request For Music

9jaflaver is not responsible for the content of external sites.