IMF – Lanka Business Online

The International Monetary Fund (IMF) reiterates that it is ready to discuss options if Sri Lanka requests financial support.

Speaking to reporters at the Washington DC headquarters, Gerry Rice of the Department of Communications confirmed that they had not yet received a request for financial support from the government of Sri Lanka.

“We have not received a request for financial support from Sri Lanka, from the government of Sri Lanka. Of course, we are ready to discuss options if necessary and we continue to monitor economic and political developments closely,” he said.

“On the debt front, I don’t have anything detailed to offer you there. As is always the case, we would seek to have all participants play their part, where appropriate. »

He added that they did, however, have a mission that aimed to strengthen, a technical assistance mission, aimed at strengthening the macro-fiscal unit in the Ministry of Finance.

“We had an IMF team in Colombo towards the end of next year, finished just before the end of the year; and this was related to the Article IV consultation. After that, we expect that to be discussed by the Executive Council in the usual way. Probably later this month towards the end of this month,” he said.

“We too, I can tell you that we had a mission aimed at strengthening, a technical assistance mission, aimed at strengthening the macro-fiscal unit at the Ministry of Finance as part of our capacity building activities. And it’s been conducted virtually and almost wraps up as we speak.

The Central Bank of Sri Lanka, however, reiterates that with the realization of the expected foreign exchange inflows and the resulting accumulation of international reserves, the need to engage in discussions with investors on debt restructuring does not arise. , as the government would be able to settle its sovereign debt without interruption or default.

Related: Sri Lanka to settle $1bn ISB maturing in July; no debt restructuring needed, says CBSL

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