evidence: In July last year, President Ranil Wickremesinghe said Sri Lanka is "bankrupt," adding negotiations with the IMF were "difficult." [...] In a statement Monday, Wickremesinghe praised the IMF’s decision, saying: "In the 75 years of Sri Lanka’s independence, there has never been a more critical period for our economic future." [...] Wickremesinghe previously told parliament that no local elections would be held until the country’s economy is on the right track.