imf team will come to sri lanka will discuss loan agreement with the new government of sri lanka
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ANI
A high-level IMF team will arrive in Sri Lanka tomorrow i.e. Wednesday and discuss the latest economic reforms with the newly elected President Anura Kumara Dissanayake-led government. The IMF said on September 24 that it would begin talks with the new government led by Sri Lankan President Anura Kumara Dissanayake.
Colombo. A high-level team from the International Monetary Fund (IMF) will arrive in Sri Lanka on Wednesday to discuss the latest economic reforms with the newly elected President Anura Kumara Dissanayake-led government. The IMF said on September 24 that it would begin talks with the new government of Sri Lanka led by President Anura Kumara Dissanayake. He will also discuss the timing of the third review of the ongoing economic reforms under the 48-month loan. The government led by former President Ranil Wickremesinghe was in talks with the IMF to release a third tranche of US$2.9 billion when the presidential elections were announced in July.
About US$360 million were expected to be disbursed after the third review, which the IMF had put on hold until the end of the election. According to the press release, “A high-level team led by Krishna Srinivasan, Director of the Asia Pacific Department, will visit Colombo from October 2 to 4, where he will meet President Dissanayake and the new economic team. He will also discuss the latest economic growth and economic reforms under Sri Lanka’s economic program supported by the IMF. This will be his first conversation with the IMF after the National People’s Power (NPP) government in Sri Lanka was elected on September 21.
This meeting will be important for the issue of releasing the fourth tranche of the US$ 2.9 billion credit facility. The third review and release of the fourth installment were put on hold due to the elections. Earlier, it was planned to release the fourth installment in December this year after the completion of the third review. Plans to restructure national carrier SriLankan Airlines have been put on hold, government policymakers said on Monday ahead of the IMF visit. However, no official statement was issued in this regard. The issue of airline restructuring was also included in the IMF’s ‘Governance Diagnostic Report’ on loss-making government companies.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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