IMF statement of 1st September 2022: The proposed (but yet unknown) IMF agreement has several pre-conditions to fulfill
- Approval by IMF management and the Executive Board in the period ahead,
- Implementation of “unknown” prior actions by the SL authorities,
- Receiving financing assurances from Sri Lanka’s official creditors,
- SL authorities making a good faith effort to reach a collaborative agreement with private creditors,
- Securing debt relief (probably a reference to a hair-cut) from Sri Lanka’s creditors (doesn’t say Forex creditors only), and
- Obtaining additional financing from multilateral partners to help ensure debt sustainability and close financing gaps.