The International Monetary Fund (IMF) will strongly support Sri Lanka on debt restructuring, IMF chief Kristalina Georgieva says.

Speaking to NDTV at the annual meeting of the World Economic Forum in Davos, the IMF chief said, “I feel for the people in Sri Lanka. It is breaking my heart to watch pictures of what is happening in the country that once was quite prosperous.”

It is a result of mismanagement, Georgieva said further, noting that the most important thing to be done is to put the island nation back on a sound macroeconomic footing.

Georgieva stressed that Sri Lanka needs to restructure its debt and that the IMF will strongly support the island nation in this regard.

“We have a technical team in the country, we are ready to support Sri Lanka once we have clarity on what the program may look like and how debt can be restructured,” Georgieva added.

She also complimented India for “being a good friend of Sri Lanka and advocating for Sri Lanka in such difficult times.”