IMF says Sri Lanka talks conclude May 24, monitoring developments closely


International Monetary Fund (IMF) is expected to conclude technical talks with Sri Lanka on a potential IMF loan program to resolve the dire economic crisis faced by the South Asian country on May 24, Fund spokesman Gerry Rice said.

Rice, speaking at a virtual IMF briefing, said the IMF is monitoring political and economic developments in Sri Lanka very closely.

The debt-burdened island country is experiencing its worst economic crisis since it won independence in 1948 as shortages of essential goods have triggered social unrest.

“So we remain committed to help Sri Lanka in line with the IMF policies and we’ll engage with stakeholders in support of a timely resolution of the crisis that is being faced there,” Rice said.

Source: Reuters