The Sri Lanka government sent in a formal request for a support program to the International Monetary Fund (IMF) last week.
The request is being channeled via Sri Lanka’s Alternative Director in the IMF Dr. Chandranath Amarasekara.
President Rajapaksa during an address to the nation last week informed that the government has decided to engage with the IMF. “The Government is in discussions with various parties to implement a new method regarding this which will be beneficial to our country,” said the President, who also referred to his discussion with the visiting IMF delegation earlier last week.
A letter by Treasury Secretary S. R. Attygalle indicates the Government’s readiness for an IMF program as well as requests for relevant meetings to discuss it during Finance Minister Basil Rajapaksa’s visit to Washington, D.C in mid-April. Finance Minister will also meet with officials of the world bank during his visit to Washington, D.C.
Sri Lanka owes nearly $7 billion in foreign debt servicing this year and a further $25 billion between 2023 and 2026.
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