Sri Lanka

IMF Talks: Sri Lanka Finance Minister meets IMF Chief

Minister of Finance Ali Sabry met the IMF Managing Director, Kristalina Georgieva on Monday (18) at IMF Headquarters in Washington DC.

Minister’s Coordinating Secretary Shamil Zavahir said negotiations with IMF started on a positive note today. They see the recent steps taken to increase the interest rates and calling for RfP’s for the appointment of International Financial/Legal Advisors as good first steps towards a possible restructuring Programme.

IMF commended the steps already taken by the Finance Minister to mitigate the situation, and assured support by the IMF was also positive on expediting the processes.

Minister Sabry also requested a Rapid Financing Instrument (RFI).

The IMF subsequently informed Minister Sabry that India had also made representations on behalf of Sri Lanka on an RFI, and informed him that they will consider it despite it being outside of the standard circumstances for the issuance of an RFI.

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