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IMF blames ‘mismanagement’ in Sri Lanka for crisis

The Managing Director of the International Monetary Fund has blamed “mismanagement” in Sri Lanka for the ongoing economic crisis, which has seen the prices of basic goods soar and a shortage of essential medicines.

“It is breaking my heart to watch the pictures of what is happening in the country, that was once quite prosperous,” Kristalina Georgieva told India’s NDTV at Davos.

“It is a result of mismanagement, and therefore the most important thing to be done is to put the country back on a sound microeconomic footing.”

The Managing Director added that the IMF would be ready to support Sri Lanka’s debt restructuring process.

On Wednesday, it was announced that the newly appointed Prime Minister Ranil Wickremesinghe would also take on the role of Finance Minister. 

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