IMF puts conditions to decide on Lanka’s request

imf logoThe International Monetary Fund (IMF) says approving Sri Lanka’s request for fresh funding will depend on some key conditions.

Gerry Rice, Director at the IMF Communications Department said that the authorities in Sri Lanka have expressed interested in a Fund supported program as one option to address the balance of payments, pressures that they face.

Rice said that the IMF is considering the options and that will depend on the assessment of macroeconomic vulnerabilities, the nature and size of balance of payments needs, and Government policies to address those vulnerabilities.

A technical mission to Sri Lanka to review recent developments and options for reducing the size of Sri Lanka’s 2016 budget deficit concluded recently.

Rice said that another IMF negotiating mission to Sri Lanka could take place in late March or early April. (Colombo Gazette)

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