Cabinet nod to commence discussions with IMF

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The cabinet has granted approval for finance minister Basil Rajapaksa to obtain technical assistance from the International Monetary Fund (IMF) and to seek necessary assistance to resolve the prevailing economic crisis.

Speaking at the weekly Cabinet briefing today (15), co-cabinet spokesman Ramesh Pathirana said a policy decision was taken yesterday to commence formal discussion with the IMF.

He said official discussions would take place next month.

Meanwhile, Asia and Pacific Department Director of the International Monetary Fund Changyong Rhee, who is currently in the country, is scheduled to hold discussions with President Gotabhaya Rajapaksa today.

He had talks with the finance minister yesteday.