Patali reveals attempts to wrongly portray SL-IMF deal

September 1, 2022 at 1:50 PM

Former Minister Patali Champika Ranawaka says there are attempts to wrongly portray the staff level agreement reached with the International Monetary Fund (IMF).

While welcoming the agreement between the IMF and the Government of Sri Lanka, the Parliamentarian said a staff-level agreement has only been reached on an Extended Fund Facility (EFF).

“This is good, as it marks the successful completion of the first concrete step in the process,” he said. 

The MP pointed out that, however, certain quarters have, either through ignorance or by design, attempted to wrongly portray this staff-level agreement as the final approval of an IMF support programme. 

“This is bad, as an EFF is subject to approval by the IMF Management and the Executive Board,” he said.

MP Ranawaka further said, more importantly, it is conditional upon financing assurances from Sri Lanka’s official creditors and agreement with private creditors. (NewsWire)