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Sri Lankan President: Country’s economy is expected to grow again from end 2023

Nina Bambeni | nina@radioislam.co.za
20 February 2023 | 22:30 PM CAT
2 min read

Photo Credit: Outlook India – Ranil Wickremesinghe

The Indian Ocean island has struggled with its worst economic crisis since its independence from Britain in 1948, which saw Sri Lanka default on loans and sought a $2.9 billion bailout from the International Monetary Fund (IMF).

Posan Jasinge, journalist and writer and PhD candidate in political science at the University College in London, says that situations making living standards in the country unbearable have certainly improved, like fuel and electricity supply.
However, he says that unemployment has worsened, and the inflation of basic prices, such as food, has not improved in the eyes of many Sri Lankans.
Jasinge states that the government is still engaged in talks with the IMF for an extended credit facility of $2.9 billion to show Sri Lanka’s creditors that they can pay their loans when, in reality, the situation does not improve as ordinary citizens do not see any change.
Meanwhile, the Sri Lankan police are investigating former president Gotabaya Rajapaksa over a hidden cash stockpile uncovered when residents stormed their residence last year.
Listen to the full interview with journalist Posan Jasinge and Ml Sulaimaan Ravat on Sabahul Muslim.


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