International Monetary Fund Managing Director Crystalina Giorgio said at a meeting in Switzerland that the crisis in Sri Lanka appeared to be the result of mismanagement.

 Speaking to NDTV in India, Davos, Switzerland, she said, “It was heartbreaking to see pictures of what was happening in Sri Lanka, once a relatively prosperous country. And that it is the result of mismanagement.

Therefore, the most important thing to do is to bring the country to a good micro-economic base, she said. “The International Monetary Fund (IMF) strongly supports the debt restructuring process in Sri Lanka. The International Monetary Fund (IMF) has not yet completed a study on what the program will look like and how the loan can be restructured.” She said

 She also said that the loan could be given once it was clarified. According to the NDTV report, she thanked India for being such a good friend of Sri Lanka and for supporting Sri Lanka in this difficult time.