IMF reaffirms commitment to support SL

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A 10-member International Monetary Fund (IMF) delegation, currently in Sri Lanka, held discussions with Prime Minister Ranil Wickremesinghe yesterday (20) at the Prime Minister’s Office in Colombo.

The preliminary discussion with the IMF delegation was attended by the Secretary to the Finance Ministry and the Governor of the Central Bank of Sri Lanka and senior finance adviser to the Prime Minister.

The first in-person talks with the IMF on Sri Lanka’s bailout request is set to continue for 10 days with the officials of the Finance Ministry and CBSL.

The IMF team is on a visit to the island for talks on a bailout programme, as Sri Lanka is struggling with its worst financial crisis.

The IMF team, visiting Colombo through 30 June, will continue recent talks on what would be Sri Lanka’s 17th rescue programme, the IMF said on Sunday.

“We reaffirm our commitment to support Sri Lanka at this difficult time, in line with the IMF’s policies,” the global lender said in a statement.

Prime Minister Wickremesinghe said this month, an IMF programme is crucial to access bridge financing from sources such as the World Bank and Asian Development Bank.Representatives from Sri Lanka’s financial and legal advisers, Lazard and Clifford Chance, are also in Colombo.