Cabinet gives approval to commence talks with IMF

15 Mar, 2022

Cabinet has given approval to Finance Minister Basil Rajapaksa to commence talks with the International Monetary Fund (IMF) to seek assistance to address the current financial crisis in Sri Lanka.

Cabinet co-spokesman Dr. Ramesh Pathirana said that the Cabinet which met yesterday (Monday) decided in principal to have talks with the IMF.

The Finance Minister held talks with a top IMF official yesterday, prior to the Cabinet meeting.

IMF Asia and Pacific Department Director Changyong Rhee met Finance Minister Basil Rajapaksa and Treasury Secretary S.R. Atygalle, two finance ministry officials had told Reuters.

Sri Lanka is expected to start formal negotiations with the IMF in April on a possible programme that could boost reserves and put growth on a sustainable path.

In Monday?s talks, officials discussed details of the IMF?s latest review of the economy and the assessments outlined by IMF executive directors at an IMF board meeting in late February. (Colombo Gazette)

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