IMF expresses willingness to discuss  fiscal support options with SL  

Date:

The International Monetary Fund is ready to discuss “options” with Sri Lanka if the government asks for financial support, its mission chief for the island said.

The Covid-19 pandemic has had a disastrous impact on Sri Lanka’s economy, which has been deprived of its tourism bonanza while workers’ remittances from abroad have fallen sharply.

“While the IMF has not received a request for financial support from Sri Lanka, the staff stands ready to discuss options if requested,” mission chief Masahiro Nozaki said.

On Wednesday, Sri Lanka’s finance minister announced the country had sought advice from the fund and was considering seeking an international bailout.

This “referred to an ongoing technical assistance mission by the IMF,” Nozaki said Thursday.

“The mission aims to strengthen the Macro Fiscal Unit at the Ministry of Finance and focuses on the training staff at the Unit, as part of our capacity development activities,” he added.

“The mission is being conducted virtually until February 9,” he said.

The IMF continues to “closely monitor economic and policy developments in Sri Lanka,” Nozaki added.

He said a fund team had visited Colombo in December last year as part of the annual bilateral discussions to review economic developments and policies.

A board meeting will be held at the end of February to review the latest economic data from the country.

Share post:

spot_imgspot_img

Popular

More like this
Related

Sumanthiran: Arrest of Ranil Ill-Advised

Top constitutional lawyer, former parliamentarian, and ITAK General Secretary...

Former President Ranil Wickremesinghe Admitted to ICU at Colombo National Hospital

Former President Ranil Wickremesinghe, who was admitted to the...

Former President Ranil Wickremesinghe Transferred to National Hospital Colombo

Former President Ranil Wickremesinghe, who is currently in remand...

The Legality of the Arrest of former President 

The arrest of former President Ranil Wickremesinghe a lawyer by profession sets...