Economic Crisis in Sri Lanka-350 million for the first instalment of the IMF loan have to privatize 39 public institutions

It is reported that 39 government institutions must be restructured to receive the first instalment of the loan given to Sri Lanka from the International Monetary Fund.

Under this, the government institutions that are suffering losses are to be privatized

Among the conditions presented by the International Monetary Fund is the reduction of corruption, political stability, obtaining a financial guarantee from local and foreign debt holders, and providing relief to the poor, including the implementation of the economic reform package.

Sri Lanka has so far received loans from 2500 individuals and 117 institutions and 5000 crore rupees from state banks. 350 million dollars is to be received as the first loan instalment of the financial fund.