IMF team in the island from 24-31 August


An IMF team co-led by Peter Breuer and Masahiro Nozaki will visit Sri Lanka over eight days beginning on Wednesday (24 August) and ending on 31 August, the IMF in a statement on Friday (19 August) said.

The objective of the visit is to make progress towards reaching a staff-level agreement on a prospective IMF Extended Fund Facility (EFF) arrangement in the near term, it said.

Because Sri Lanka’s public debt is assessed as unsustainable, approval by the IMF Executive Board for an EFF programme would require adequate assurances by Sri Lanka’s creditors that debt sustainability will be restored, the IMF said.IMF staff would also continue the engagement with other stakeholders during the visit, the statement added.