The International Monetary Fund has refused to grant loans to Sri Lanka and it is a very serious situation, says Stephen Hanke, professor of economics at Johns Hopkins University in America.

Sri Lanka has joined 16 programs with the International Monetary Fund, but none of them have been implemented.

“Sri Lanka is in a death spiral. Today, I measure LKA’s inflation at 122%/yr. Things are so bad even IMF refuses to offer Sri Lanka a bailout loan. SPOILERALERT: Sri Lanka has had 16 IMF programs. None have
— Steve Hanke (@steve_hanke) July 3, 2022″

Meanwhile, foreign media reports that the negotiations between the Sri Lankan government and the International Monetary Fund to provide a relief package to bankrupt Sri Lanka have ended without an agreement. But the reports also claim that the International Monetary Fund has promised to continue the negotiations.

Meanwhile, the main organizer of the opposition, Member of Parliament Mr. Lakshman Kiriella said in the Parliament that the international media reports that Sri Lanka’s negotiations with the International Monetary Fund have failed.

 He said that everyone is waiting for the negotiations with the International Monetary Fund and the country should be informed about the true situation.

However, addressing the Parliament today, Prime Minister Ranil Wickramasinghe said that he was able to proceed successfully with the round of negotiations held with the International Monetary Fund.