Ali Sabry and team leave for Washington

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Minister of Finance Ali Sabry and a delegation left the island last morning for talks with the International Monetary Fund (IMF).

The delegation, which left for Washington, DC, included Central Bank Governor Dr. Nandalal Weerasinghe, Ministry of Finance Secretary K.M.M. Siriwardena, and a senior delegation from the Ministry of Finance and the Central Bank.

Finance Minister Sabry recently told foreign media that talks with the International Monetary Fund (IMF) would begin today (18), with a goal of obtaining USD 4 billion in assistance.

Reportedly, the first round of talks with the International Monetary Fund will take place until 24 April.

He said that technical level discussions with representatives of the IMF were already being held online for six days since last week.

The island nation is looking at making a ‘decent case’ before the IMF to help preserve the economy, Sabry said in an interview with Bloomberg Television. He said talks were scheduled to begin in Washington on April 18, and he expected emergency relief funds a week later, if things go well.

“Our appeal to them is to release it as soon as possible,” Sabry said. He indicated some funds the nation is seeking will come from other lenders and Governments besides the IMF, but didn’t give a breakdown.