brand logo

Economic crisis: Government to meet IMF tomorrow

12 Mar 2022

  • Official discussions to commence with Finance Minister
  • Second round of talks on 11 April in Washington
By Our Political Editor  The Government is to hold preliminary discussions with the International Monetary Fund (IMF) tomorrow (14) on finding a way out of the current economic crisis faced by the country. A group of IMF officials are to meet with Finance Minister Basil Rajapaksa tomorrow to officially commence the discussions on an IMF assistance programme for Sri Lanka. The IMF team is to meet President Gotabaya Rajapaksa on Tuesday (15). It is learnt that the discussions will focus on addressing Sri Lanka’s forex crisis as well as seeking assistance in restructuring the country’s debt. The second round of discussions is to take place next month (April) in Washington DC. It is learnt that the meeting has been scheduled for 11 April and that Finance Minister Rajapaksa will be accompanied by Treasury Secretary S.R. Attygalle at the discussion. A highly-placed Government source told The Sunday Morning that the Government would sit for the discussions with the IMF with an open mind in order to find solutions to the current issues. The Government has already taken several preemptive measures last week to address macroeconomic policy concerns that would have otherwise been insisted on by the IMF. These include the decision to float the rupee and increase fuel prices in line with increasing global prices. However, Central Bank Governor Ajith Nivard Cabraal took to Twitter last Friday (11), stating that the meetings had not been for the purpose of debt restructuring.  “Meetings of Sri Lankan authorities with @IMFNews officials over the next few weeks are NOT for the purpose of #debt restructuring as stated by some news agencies. @CBSL #SriLanka #GoSL,” Cabraal tweeted.   


More News..