Sri Lanka IMF board date after agreed actions implemented

Sri Lanka
By Editor_1

COLOMBO – The International Monetary Fund (IMF) will present its staff report on Sri Lanka to the Executive Board as soon as Sri Lanka implements all agreed actions, an official said amidst strong expectations in the island about an early December date for the review of its program.

Senior Mission Chief Peter Breuer said a date for the staff report to be presented to the Executive Board can be announced once Sri Lanka implements “all prior actions that have been agreed” and financing assurance reviews have been completed.

He said the review would include confirming whether adequate progress has been made with debt restructuring to give confidence [to the IMF’s Board] that the restructuring will be concluded in a timely manner and in line with the program’s debt targets.

State Minister for Finance Ranjith Siyambalapitiya told reporters Tuesday (21) that the IMF may consider Sri Lanka’s review on December 6.

The IMF was awaiting a debt restructuring deal from the Paris Club and India after China gave the first proposal to reschedule debt.

Sri Lanka Parliament passed a budget for 2024 on Tuesday, which analysts say was likely to have been a stipulated prior action.

-economynext.com

 

Editor_1
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