IMF’s Mission Head for Sri Lanka Masahiro Nozaki, in a statement on 7 May, said they will engage with the economic team of the Sri Lankan authorities during 9-23 May in a virtual mission and continue discussions, on the Sri Lanka authorities’ request for an IMF-supported programme.
Nozaki further said, “We remain committed to assisting Sri Lanka, in line with IMF’s policies. But because Sri Lanka’s debt is assessed as unsustainable, approval of IMF financing, including through a ‘Rapid Financing Instrument,’ (RFI) would first require adequate assurances that debt sustainability will be restored,” he added.
IMF Press Officer for the region who sent this email on behalf of Nozaki further said journalists will be informed of further developments. (PA)