Clinton & the IMF

Clinton pressured IMF to not give loans to Sri Lanka: Min. Amunugama

Dec 07, 2016 (LBO) – Sri Lanka’s Special Assignments Minister Sarath Amunugama today revealed that Hillary Clinton forced IMF not to approve a loan facility to Sri Lanka when she was working as the US secretary of state.

Minister Amunugama told Parliament today that the defeat of Hillary Clinton at the recent Presidential Election should not be seen as an issue for Sri Lanka.

“There is no doubt that Clinton had forced his US representative to tell the IMF not to give a USD2.6 loan facility to Sri Lanka,” Amunugama said.

“I was the one who represented Sri Lanka at IMF for discussions at that time. I thank the then head of IMF Strauss-Kahn for rejecting US pressure by approving the loan.”

Last year Wikileaks also revealed an email sent in May 2009 that suggests she wanted the IMF to suspend funds to Sri Lanka.

The mail seemed to suggest that the IMF was unhappy with Clinton telling the IMF to suspend the funding.

In July 2009, however the IMF Executive Board approved 2.6 billion US dollars Stand-By Arrangement for Sri Lanka.

Minister Amunugama further revealed that India was ready to help Sri Lanka if the IMF rejected the 2.6 billion US dollars IMF Stand-By Arrangement.

“At that time India said they are ready even to give us a currency swap facility if IMF rejects the loan.”

“We are indebted for their support and that’s how we obtained the IMF loan amidst the objection of the United States.”

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