There is no plan to provide financial assistance to Sri Lanka..!?

We all know that sri lanka is stuck in a severe economic crisis. As things stand, the country desperately needs the World Bank's help to recover. The political stability, there is already bad, there is a compulsion to fix everything only with finance. Although various countries have volunteered to help, it is not enough in the current situation in Sri Lanka. Many people are demanding to treat this issue as an international issue instead of seeing it as a country's problem, as it can only be recovered if there is a large amount of international assistance.
In this case, the World bank has stated that there is no plan to provide new financial assistance to sri lanka, which is affected by the economic crisis. The World bank has released this shocking information in a report. Here is what the statement said the World bank has no plans to provide new financing to sri lanka until an adequate macroeconomic policy framework is in place in a country facing the worst crisis. Sri Lanka must focus on economic reforms and stability, and ensure that Sri Lanka's future recovery and development are resilient and inclusive. Attention should also be paid to addressing the root structural causes that created this crisis. Regarding the current crises, the World bank Group is deeply concerned about the deteriorating economic situation and its impact on the people of Sri Lanka.

The statement read as about USD 160 million of this fund in World bank portfolio has been provided to meet urgent needs to help alleviate acute shortages of essential commodities such as medicines, cooking gas, fertilizer, food for school children, and cash transfers for poor and vulnerable families.

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Sowmiya Sriram

29/07/2022 12:45 PM