Sri Lanka’s crisis is a result of mismanagement: IMF Chief

International Monetary Fund Managing Director Kristalina Georgieva has said that Sri Lanka’s crisis is due to mismanagement, and therefore the most important thing to be done is to put the country back on a sound microeconomic footing.

In an interview with India’s NDTV at the annual meeting of the World Economic Forum in Davos, she said that “I feel for the people in Sri Lanka. It is breaking my heart to watch pictures of what is happening in the country that once was quite prosperous. 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.”

“We have a technical team in the country, we are ready to support Sri Lanka once we have clarity on what the programme may look like and how debt can be restructured,” she said.

She also praised India for being a good friend of Sri Lanka and advocating for Sri Lanka in such difficult times.