IMF Staff to visit Colombo on August 24th

COLOMBO (News 1st); The IMF staff plans to visit Colombo during August 24-31 to continue discussions with the Sri Lankan authorities on economic and financial reforms and policies. 

The objective is to make progress towards reaching a staff-level agreement on a prospective IMF Extended Fund Facility (EFF) arrangement in the near term. 

Because Sri Lanka’s public debt is assessed as unsustainable, approval by the IMF Executive Board of the EFF program would require adequate assurances by Sri Lanka’s creditors that debt sustainability will be restored. 

IMF staff would also continue the engagement with other stakeholders during the visit. The team will be led by Mr. Peter Breuer and Mr. Masahiro Nozaki.