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IMF notes Sri Lanka still in talks with official bilateral creditors

31 Jan, 2023

The International Monetary Fund (IMF) noted that Sri Lanka is still in talks with its official bilateral creditors to secure financial assurances.

Pierre-Olivier Gourinchas, the Economic Counsellor and the Director of Research of the IMF said that once the assurances are secured, access to IMF financing will be unlocked.

“We can confirm that India has indicated to the IMF that it is committed to deliver financing and debt relief consistent with helping the country restore its debt sustainability, which is a very good development. India is one of the non Paris Club official creditor. And Sri Lanka is engaged in other discussions with other official bilateral creditors to obtain similar assurances,” Pierre-Olivier Gourinchas told reporters.

He said that once the assurances are secured, access to IMF financing will be unlocked and Sri Lanka will be able to move forward.

“We very much look forward for other official bilateral creditors to do their part,” Pierre-Olivier Gourinchas said.

The US Ambassador to Sri Lanka, Julie Chung, said that assistance expected from the IMF to Sri Lanka is likely to speed up with the cooperation of all countries.

She expressed this view at a meeting with the State Minister of Finance, Shehan Semasinghe today. (Colombo Gazette)

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