Issuing a statement, The International Monetary Fund (IMF) has provided an update on the progress of IMF’s support program to Sri Lanka.
Masahiro Nozaki, IMF’s mission chief for Sri Lanka has said that the IMF team will engage with the economic team of Sri Lankan authorities during May 9-23.
Nozaki said that this discussion will happen virtually and will continue the discussions on the Sri Lankan authorities’ request for an IMF-supported program.
The statement further emphasized that the IMF remains committed to assisting Sri Lanka, in line with the organization’s policies.
It also reiterated that due to Sri Lanka’s debt is assessed as unsustainable, approval of IMF financing, including through a Rapid Financing Instrument, would require adequate assurances that debt sustainability will be restored. (NewsWire)