You are here: Home » International » News » Economy
Business Standard

Sri Lanka, IMF to start next round of technical discussions amid crisis

The International Monetary Fund (IMF) announced it will begin the next round of technical discussions with Sri Lanka from May 9-23

Topics
sri lanka | International Monetary Fund | Economic Crisis

IANS  |  Colombo 

IMF
IMF's mission chief for Sri Lanka, Masahiro Nozaki said that the Fund is committed to assisting Sri Lanka, in line with its policies, reports Xinhua news agency.

The Monetary Fund (IMF) announced it will begin the next round of technical discussions with from May 9-23

IMF's mission chief for Sri Lanka, Masahiro Nozaki said that the Fund is committed to assisting Sri Lanka, in line with its policies, reports Xinhua news agency.

"Because Sri Lanka's debt is assessed as unsustainable, approval of IMF financing, including through a Rapid Financing Instrument, would require adequate assurances that debt sustainability will be restored," he said.

The two sides held the first round of discussions at the IMF headquarters last month.

hopes for a Rapid Finance Instrument (RFI) facility as well as a larger Extended Fund Facility (EFF) from the IMF to overcome its foreign currency shortage issues that had led to an .

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, May 07 2022. 16:47 IST
RECOMMENDED FOR YOU
.