Discussion with IMF officials begins

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Discussion between Finance Ministry, Central Bank officials and International Monetary Fund( IMF) staff commenced today.

A senior Finance Ministry official said the discussions will mainly focus on a staff-level agreement on an IMF Extended Fund Facility (EFF) arrangement in the near term.

Central Bank Governor Nandalal Weerasinghe too will attend discussions with the IMF staff. The official said the team will assess the total internal and external debt and provide guidance on debt payment restructuring. The team will also provide suggestions and proposals for the upcoming budget.

The IMF team is headed by Peter Breuer and Masahiro Nazaki. The team will remain on the island till August 31 and according to IMF, they are to meet other stakeholders as well.

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