IMF team to visit Sri Lanka by month-end for staff-level agreement

The Governor of the Central Bank says that Sri Lanka’s negotiations with the International Monetary Fund (IMF) is making good progress and that an IMF delegation is expected to visit the island by the end of August to reach a staff-level agreement. 

“IMF program is making a good progress. For example, IMF mission is planning to visit Sri Lanka towards the end of this month to reach a staff-level agreement on a policy package,” Dr. Nandalal Weerasinghe said.

He stated that after Sri Lanka reaches a staff-level agreement with the IMF the country would also have to engage with its creditors on debt restructuring.

“Once we reach a staff-level agreement of course we have to reach the creditors on debt restructuring with our advisors. That will also progress once we start the staff-level agreement.” 

“Once you reach that the situation will improve further,” he added.

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