Tuesday, June 25, 2024
Local NewsSri Lanka Economy

How the IMF took our leaders for a ride: What can be done today

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Lankaweb|When Prime Minister Sirimavo lost the General Election in Sri Lanka in mid 1977, Sri Lanka did not have a foreign debt. During the time of Sirimavo and earlier, Sri Lanka got foreign loans on projects, where once the development project was completed the production brought about due to the completion of the project enabled the payment of the loan. They were all project loans. In 1975, Sri Lanka/s foreign debt was negligible. Then, the foreign debt, only $ 743 million, $ 75 million at the..|read more
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