IMF delegation in Sri Lanka for talks

(FASTNEWS | COLOMBO) – The IMF staff will continue discussions with the Sri Lankan authorities on economic and financial reforms and policies from today.

Sri Lanka’s Finance Secretary Mahinda Siriwardena said that the IMF delegation arrived in Sri Lanka.

The IMF in a recent statement said that objective is to make progress towards reaching a staff-level agreement on a prospective IMF Extended Fund Facility (EFF) arrangement 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,” it added.

IMF staff would also continue the engagement with other stakeholders during the visit.

The team will be led by Mr. Peter Breuer and Mr. Masahiro Nozaki, said the statement from the IMF.