The International Monetary Fund (IMF) has expressed the hope of Sri Lanka obtaining consent of creditors specially, Japan, India and China for debt restructure as the country has been severely affected by an economic crisis.
IMF Managing Director, Kristalina Georgieva briefly mentioned the issue in Sri Lanka during a recent discussion with Centre for Global Development President, Masood Ahmed.
“So, on Sri Lanka, there are three large creditors, Japan, India, China. We are very hopeful to see an engagement from the public side that comes quickly. And then, of course, looking at all the parameters, bringing the private sector on board,” Ms. Georgieva said.
An IMF delegation and the Sri Lankan authorities recently reached a staff-level agreement to support Sri Lanka’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about US$2.9 billion, which needs IMF board approval for its implementation. (BS)
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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