Tuesday, January 31, 2023

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IMF Staff to visit SL soon

The International Monetary Fund (IMF) revealed that a group of its staff members plans to visit Sri Lanka during August 24 – 31 to continue talks with the Sri Lankan authorities on economic and financial reforms to be taken place.

The IMF, led by Peter Breur and Masahiro Nozaki, is expected to reach a staff-level agreement on a prospective IMF extended fund facility arrangement with the government of Sri Lanka in the near term.

“Because Sri Lanka’s public debt is assessed as unsustainable, approval by the IMF Executive Board of the EFF program would require adequate assurances by Sri Lanka’s creditors that debt sustainability will be restored,” the IMF said in a statement.

The IMF team may also continue the engagement with other stakeholders during the visit, it added.

Read the full statement here: https://www.imf.org/en/News/Articles/2022/08/19/pr22287-imf-staff-statement-on-sri-lanka

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