IMF facility debunks Sri Lanka's bankrupt status: President Wickremesinghe

President Ranil Wickremesinghe told Parliament on Wednesday that the IMF bailout had restored Sri Lanka's international recognition, ending the image of bankruptcy and helping the local banks regain foreign investors' confidence.

The IMF board had on Tuesday approved a USD 3 billion facility over a four-year period to help Sri Lanka emerge from its balance of payment crisis which plagued the island since April last year.

Wickremesinghe said the bailout would create opportunities for low-interest credit, restore foreign investors' confidence, and lay the foundation for a strong new economy.

The receipt of the IMF Facility is a step towards building a better future for the youth and uplifting the country.

Additionally, the country is expecting about USD 7 billion dollars more in rapid credit support from other parties.

Amidst numerous hardships, bearing all kinds of pressure, and undergoing suffering with equanimity, the people of this country remained calm and patient. Their commit