No recent request from SL for financial support - IMF

PA (TPL) | Published: 9:40 AM Nov 26 2021
Local No recent request from SL for financial support - IMF

The International Monetary Fund says it has not received a request for financial support from Sri Lanka recently.

The IMF’s mission chief for Sri Lanka, Masahiro Nozaki, said the staff stands ready to discuss options if requested.

Based at the IMF headquarters in Washington DC, he said by email that a staff team is due to visit Colombo for two weeks from 07 December to conduct the 2021 Article IV consultation with Sri Lanka.

Under Article IV of the IMF's Articles of Agreement, the IMF holds regular bilateral discussions with all member countries such as Sri Lanka to review economic developments and policies, Nozaki said.

Consequently, following approval by the IMF Management, the IMF’s Executive Board discusses such staff reports based on these discussions, he said.

Meanwhile, Central Bank Governor Ajith Nivard Cabraal said Sri Lanka will not discuss a new programme with the IMF team who will visit the country next month.

He said, instead the Government is pursuing government- to-government consultations, including with India, to uplift the country’s foreign reserves.

PA (TPL) | Published: 9:40 AM Nov 26 2021

More News