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IMF wants Sri Lanka to implement deals with official creditors

12 Jan, 2024

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The International Monetary Fund (IMF) wants Sri Lanka to conclude the negotiations with external commercial creditors and implement agreements with official creditors.?

Julie Kozack, Director of Communications at the IMF noted that the Executive Board approved the first review of the program on 12th December 2023.

“So just about a month ago, with a disbursement of $337 U.S. dollars. Program performance has been satisfactory, as signaled by the completion of the review. And the next steps are the mission that is currently on the ground right now. This mission is a staff visit. It is kind of a fact finding or technical mission. And the goal of this mission is to discuss recent developments and to follow up on program targets and commitments,” she said.

Kozack said the mission for the next program review will take place later and the next steps on the debt restructuring are to conclude the negotiations with external commercial creditors and to implement agreements with official creditors.

She also said that the domestic debt operations for Sri Lanka have been largely completed. (Colombo Gazette)

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