Analysts believe the financial system is likely to face the kind of difficulties it experienced in 2008, Parliament Speaker Mohamed Nasheed has said.
Speaking at Monday's Parliament sitting, Nasheed said some banks are already facing financial difficulties.
"Honorable members, you would have noticed that a US bank, Credit Swiss Bank, and some other European banks face financial difficulties," Nasheed said.
Nasheed said he had no doubt that the MPs would think about it.
Nasheed also spoke regarding financial aid to Sri Lanka amid its current economic downturn. Nasheed said he had received information that the International Monetary Fund (IMF) would arrange a recovery package for neighboring Sri Lanka.
"Today, I have received information that the IMF is discussing a recovery package and an agreement to relieve Ceylon's financial situation and financial problems," Nasheed said.
