Sri Lanka to appoint technical committee to negotiate with IMF, hire law firm

Sri Lanka
By Editor_1
0

COLOMBO – Sri Lanka is appointing a technical committee to help negotiate with the International Monetary Fund (IMF) and will also a hire a legal firm to assist with the process, Cabinet spokesman Ramesh Pathirana said.

“We have taken a policy decision to go the IMF for which we need a technical committee,” Minister Pathirana told reporters in Colombo on Tuesday (22).

Sri Lanka will also hire a legal firm to help with debt restructuring.

“A transparent process will be followed,” he said, adding that the process would be headed by Foreign Minister G. L. Perris and Justice Minister Ali Sabry, assisted by the Central Bank Governor Ajith Nivard Cabraal.

The International Monetary Fund has said Sri Lanka’s debt is unsustainable and requires re-profiling or re-structuring.

-EN

 

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