Sri Lankan PM says discussions with IMF to seek assistance successful

COLOMBO, July 5 (Xinhua) -- Sri Lankan Prime Minister Ranil Wickremesinghe on Tuesday said recent discussions with the International Monetary Fund (IMF) to seek economic assistance for the country had been successful.

Sri Lankan Prime Minister Ranil Wickremesinghe. (File photo: AFP)

"Positive and productive discussions were held on supportive economic policies and reforms," Wickremesinghe said.

But Sri Lanka will have to submit a debt restructuring plan to the IMF for approval, Wickremesinghe told the parliament.

The prime minister added that Sri Lanka's ongoing economic crisis was something that could not be solved within a short period of time.

He said Sri Lanka will face difficulties in 2023 as well and the government's immediate plan was to control inflation, which will rise to 60 percent by the end of this year.

Sri Lanka has sought assistance from the IMF and friendly nations for economic assistance amid a worsening economic crisis that has caused a shortage in fuel, medicines, food, gas and other essentials.