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Sajith wants IMF deal tables in Parliament

06 Sep, 2022

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Opposition Leader Sajith Premadasa today requested the Government to table the agreement reached between Sri Lanka and the International Monetary Fund (IMF) in Parliament.?

The Government responded saying that the request will be put forward to the President and Prime Minister.

The request was made by the Opposition Leader in Parliament today.

The IMF reached a staff-level agreement to support Sri Lanka?s economic policies with a 48-month arrangement under the?Extended Fund Facility (EFF) of about US$ 2.9 billion.

The objectives of Sri Lanka?s new EFF supported program are to restore macroeconomic stability and debt sustainability, while safeguarding financial stability, protecting the vulnerable, and stepping up structural reforms to address corruption vulnerabilities and unlock Sri Lanka?s growth potential, the IMF said.

The IMF also said that debt relief from Sri Lanka?s creditors and additional financing from multilateral partners will be required to help ensure debt sustainability and close financing gaps. Financing assurances to restore debt sustainability from Sri Lanka?s official creditors and making a good faith effort to reach a collaborative agreement with private creditors are crucial before the IMF can provide financial support to Sri Lanka. (Colombo Gazette)

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