IMF representatives to visit Sri Lanka for economic assessment

News

A team of representatives from the International Monetary Fund (IMF) team is to visit Sri Lanka next week for a critical assessment of the country's economic situation, Finance Ministry sources said.

A senior official of the ministry added that the mission aims to evaluate recent economic trends in the country and the progress achieved on economic reform programme endorsed by the IMF.

The IMF team’s visit is significant ahead of the second review under the 48-month Extended Fund Facility (EFF) arrangement which is expected to be completed by the end of the first half of 2024,

Sri Lanka has to enter into agreements with its official and private creditors before the second review of the Extended Fund Facility (EFF), IMF sources pointed out.

The agreements entered with creditors in-principle have to be converted into real agreements before the second review.

Sri Lanka has entered into in-principle debt restructuring deals with the Official Creditor Committee (OCC) led by France, China and India and also with Exim Bank of China.

However, Sri Lanka is yet to strike a deal with its commercial creditors or the bondholders. An initial proposal involving restructuring debt linked to GDP growth by the bondholders was rejected by the Sri Lankan authorities. (Bandula)

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 494 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 461 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 370 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 30, 2025

- 269 - 0

In Pix: Weather situation in Colombo

June 6, 2025

- 209 - 0

SriLankan flight grounded in Indonesia

A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.

June 3, 2025

- 209 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.