IMF team arrives in Sri Lanka ahead of first review mission later this year

COLOMBO (News 1st): A team of 10 from the International Monetary Fund have arrived in Sri Lanka as a part of their regular consultations with the island subsequent to the nearly $3 billion Extended Fund Facility granted by the IMF in March this year.

The meetings between the IMF team and the Government of Sri Lanka will take place between the 11th and 23rd of May. The team arrived in Sri Lanka as a part of regular consultations ahead of the first review mission later this year. 

Krishna Srinivasan, Director of the Asia and Pacific Department, will join the May 12-15 visit, along with The IMF team of 10 officials which include IMF Senior Missions Chief for Sri Lank, Peter Breuer. 

Sri Lanka is struggling with its worst financial crisis in over seven decades triggered by a severe shortage of foreign exchange, and the IMF is hopeful that the package of $3 billion in relief will aid the country in restructuring and gaining access to capital markets.