Sri Lanka considers IMF conditions for a bailout package

Business

The International Monetary Fund (IMF) has put forward some conditions to grant a bail out facility requested by the Sri Lanka government, official sources said.

A senior official of the Treasury told the Sunday Times online that Sri Lankan government is considering the conditions made by the IMF for a Fund supported programme as one option to address the balance of payment issues faced by the country

He noted that the IMF representatives have brought to the notice of the Finance Ministry at meeting held in Colombo recently that their bailout package would be worked out following he assessment of macroeconomic vulnerabilities, the nature and size of balance of payments needs, and Government policies to address those vulnerabilities.

A technical mission to Sri Lanka to review recent developments and options for reducing the size of Sri Lanka’s 2016 budget deficit concluded recently.(Bandula ).

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