evidence: No sooner RW became president on 21st July, he immediately approached the IMF for the seventeenth time. IMF accepted the invitation with conditions and the economy since then is moving slowly under its direction. After two years of this incomplete operation, and when President RW is in the thick of a yet undeclared election campaign, he is celebrating the end of bankruptcy and return to solvency just on the back of a deal signed with private creditors over a restructured plan to repay all loans on concessional terms by 2043 the latest. All bilateral loan instalment payments are deferred until 2028. With IMF sponsoring these negotiations and more importantly – a fact hardly mentioned – the geostrategic importance of Sri Lanka in a growing Cold War in the Indian Ocean, that deal should not come as surprise. Yet, that deal should be welcomed and RW may have something to celebrate over a piece of "good news". But it does not mean the economy is solvent. CBSL chief who from the outset rejected the bankruptcy description is now logically compelled to object RW’s claim that bankruptcy has ended and solvency has returned.