Sri Lanka begins preliminary talks with IMF on a funding facility

Sri Lanka  and the International Monetary Fund (IMF) held preliminary talks via zoom today (Monday) on a funding programme as a prelude to upcoming technical level negotiations relating to fund facility during Spring Meetings commencing on April 18 in Washington.

Central Bank Governor Dr. Nandalal Weerasinghe and Treasury Secretary Mahinda Siriwardena participated in the zoom meeting that lasted around 40 minutes with Anne-Marie Gulde -Wolf, Deputy Director, Asia and Pacific Department at International Monetary Fund

Sri Lanka team comprising the Finance Minister, Central Bank Governor and the Treasury Secretary will leave the country for Washington next week for IMF’s Spring Meetings starting on April 18 to start technical level negotiations for programme support and debt restructuring.

The Central Bank and the Finance Ministry have already called for Requests for Proposals from prospective legal and financial advisers to select suitable experts for debt restructuring process.

They will have to provide financial and legal advisory, and technical assistance during negotiations with the IMF and other creditors for debt restructuring. (Bandula)