World Bank says no new plans for financing for Sri Lanka
People stand in a long queue to buy kerosene oil for kerosene cookers amid a shortage of domestic gas due to country's economic crisis, at a fuel station in Colombo, Sri Lanka March 21, 2022. REUTERS/Dinuka Liyanawatte
The World Bank does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place, it said in a statement on Thursday.
The World Bank stressed that Sri Lanka needs to enact structural reforms that focus on economic stabilization and address the root structural causes that led to the crisis.
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