IMF wants stability in Sri Lanka to resume talks

IMF wants stability in Sri Lanka to resume talks

by Zulfick Farzan 15-07-2022 | 8:49 AM

COLOMBO (News 1st); The International Monetary Fund says that it is deeply concerned about the ongoing crisis, it's impact on the Sri Lankan people, and particularly the poor and the vulnerable groups in Sri Lanka.

"We hope for a resolution of the current situation that would allow for our resumption of a dialogue on an IMF supported program," said Gerry Rice, the Director of the Communications Department of the IMF.

"The high-level discussions with the authorities that we would need to begin discussions on a program, we hope again, that these would be able to resume as soon as possible. So, you know, looking to do all we can in just an extraordinary difficult situation," he added,

Sri Lanka's public debt is assessed as unsustainable and as is the case with every IMF program, not just the case of Sri Lanka, for approval by the Board, he noted.

"And we are not at that stage, but for approval by the Board, a program would require adequate assurances on debt sustainability. So, that's what I have on this, you know, situation that's of great concern in Sri Lanka," said Rice.