Sri Lanka’s talks at the International Monetary Fund (IMF) in the US have been centered around debt restructuring, Finance Minister Ali Sabry said.
Speaking during an interview with Bloomberg, Minister Sabry said along with the debt restructuring, Sri Lanka is looking to go forward with a proper programme with the IMF.
The Minister revealed that some creditors have reached out to Sri Lanka, stating that the Sri Lankan delegation is willing to meet them.
He further said that Sri Lanka is in the process of appointing the necessary financial and legal advisors to carry out the discussions.
Meanwhile, the IMF has appreciated Sri Lanka’s participation in its spring meetings.
IMF Managing Director Kristalina Georgieva said discussions were held with Sri Lanka’s Finance Minister Ali Sabry and Central Bank of Sri Lanka (CBSL) Governor Nandalal Weerasinghe on the economic crisis in the country.
Georgieva further said that policy actions to address economic challenges were discussed with the two Sri Lankan officials.
The IMF and the Sri Lankan officials undertook to work together towards mapping a pathway to Sri Lanka’s recovery, she added.
“Thank you, Minister Ali Sabry and Governor Weerasinghe for being with us in person at the Spring #IMFMeetings during these difficult times. We discussed policy actions to address economic challenges and undertook to work together towards mapping a pathway to #SriLanka’s recovery,” Kristalina Georgieva Tweeted.
Sri Lanka has reached out to the IMF in the midst of a severe economic crisis that has resulted in the shortage of several essential items, including fuel, gas, and medicines.
The rising cost of living has led to the public staging several protests across the country calling for the President and his Government to step down over the mismanagement of the country’s reserves. (NewsWire)