Sri Lanka to restart IMF bailout talks, new president says
NBCJUL 2022
While this sounds like good news, this move won't actually solve the country's debt crisis. On the contrary, it will only further confine Sri Lanka to a vicious foreign debt circle that it has been trapped in for decades, with international financial institutions meddling in domestic affairs. If the intention is to help them handle this crisis, Sri Lanka's debt should be forgiven.
The IMF has long been accused of creating vicious debt circles and interfering in domestic affairs, but these claims aren't accurate and those making them offer no viable alternative for countries in economic crisis. Sri Lanka is right to deal with the IMF as its assistance will be helpful to tackle the current crisis and to create a long-lasting positive macroeconomic environment.