Sri Lanka is NOT meeting IMF for debt restructuring: Cabraal

COLOMBO (News 1st); The Governor of the Sri Lanka Central Bank, Ajith Nivard Cabraal states that the meetings which are due to take place over the next few weeks with officials of the International Monetary Fund (IMF) are NOT for the purpose of debt restructuring. 

However, Reuters on Friday (11) reported that the talks will be held from next month to obtain assistance with debt restructuring and managing the country's foreign exchange shortage.

Finance Minister Basil Rajapaksa will travel to Washington D.C. in mid-April to present Sri Lanka's proposal to senior IMF officials, two sources with knowledge of the ongoing discussions told Reuters.

Sri Lanka has to repay about $4 billion in foreign debt this year, including a $1 billion international sovereign bond maturing in July.