IMF loans only on acceptable conditions

Chief Government Whip Urban Development and Sacred Area Development Minister Dinesh Gunawardena told Parliament yesterday that the Government will obtain loans from the International Monetary Fund (IMF) only based on conditions acceptable with national interest.

The Minister was responding to a question raised by UNP MP Ravi Karunanayake. Minister Gunawardena said all countries were affected by the world economic recession and the Opposition should act with responsibility.

"Amidst all these challenges, the Government has been able to maintain economic stability," he said.

"The Government will only obtain this loan based on terms and conditions that we agreed we did not obtain loans unlike the previous Governments who agreed with every condition demanded by international lending agencies or the country," he said.

Asked to inform the House, the total loans outstanding as of today, Minister Gunawardena said it is Rs. 1,327,419.79 million.

UK and IR