All dollar loan installments for next year will be honoured- Basil

Minister of Finance Basil Rajapaksa says despite the present economic situation in the country, the government will ensure all dollar loan repayments for next year will be honoured.

Minister Rajapaksa noted that although the opposition wants the government to default on its debt payments, the present administration has taken all measures to repay the loans on time.

The Finance Minister also said he has nothing to hide as the country is facing an economic and foreign reserve crisis.

Minister Basil Rajapaksa said despite the issues, with the support of the President and the Prime Minister, they will make arrangements to pay foreign loans without any delay.

He said the present economic crisis was a result of the actions of the previous administration which was compounded due to the COVID-19 crisis.

The Finance Minister said the previous administration failed the country and its actions resulted not only in destroying the country, but also the then ruling United National Party.

Finance Minister Basil Rajapaksa said they have proposed a number of projects to improve the economy and will seek the assistance of all factions to implement the said proposal.

He said he is keen on reducing the outflow of foreign exchange especially through the development of renewable energy sources and by minimising the use of funds to purchase crude oil.

Finance Minister Rajapaksa said they are not keen on restructuring the loans or obtaining new loans.

He said the government wants to create a debt-free country and will hand over a strong economy to the next administration.

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