Sri Lanka's leftist President Dissanayake takes office as IMF worries grow

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Sri Lanka's leftist President Dissanayake takes office as IMF worries grow - Business Standard

Quick Summary:

Earlier Monday, Prime Minister Dinesh Gunawardena resigned from his post, thereby dissolving the previous cabinet and allowing Dissanayake to make his own appointments.

Although he has not spelled out his plan on the IMF deal in detail, his backers have said he plans to seek modifications without throwing out existing terms altogether.“We are staying with the program but will look for modifications,” Rizvie Salih, an executive committee member of Dissanayake’s NPP coalition, said on Saturday.“Even the IMF has said they are open to new ideas, proposals.

On foreign policy, Dissanayake faces the challenge of juggling the competing interests of China and India, strategic rivals who’ve been major investors.