By Uditha Jayasinghe
COLOMBO (Reuters) – Sri Lanka could have detailed talks with the IMF on the framework of a $2.9 billion bailout programme on the sidelines of the lender’s annual conferences in Washington later this month, the nation’s cupboard spokesperson mentioned on Tuesday.
The delegation to the conferences in Washington shall be led by the nation’s central financial institution governor, treasury secretary and monetary advisers to new president Anura Kumara Dissanayake, minister Vijitha Herath instructed reporters at a information convention.
Dissanayake mentioned Sri Lanka will instantly have interaction with the Worldwide Financial Fund (IMF) for the third assessment of its bailout programme, the approval of which is able to see the disbursement of a fourth tranche of about $337 million.
An IMF crew shall be on a three-day go to to Colombo from Wednesday to satisfy with Dissanayake and his crew to debate newest financial developments and reforms underneath Sri Lanka’s financial programme supported by the IMF, a spokesperson for the lender mentioned.
“We’re of the view that an analysis must be performed on the IMF programme however that won’t be executed with the delegation visiting this week,” Herath mentioned, including that the IMF delegation was making a “courtesy name” this week.
The 2024 annual conferences of the IMF and the World Financial institution is scheduled to happen throughout Oct. 21-26.
Thousands and thousands of Sri Lankans voted for leftist chief Dissanayake within the debt-ridden island nation’s presidential election in September – the primary since its economic system buckled in 2022 – placing religion in his graft-fighting pledge and vow to bolster a fragile financial restoration.
Traders fear that Dissanayake’s need to revisit the phrases of the IMF bailout might delay future disbursements. However the fears have been considerably allayed by the brand new president who mentioned final week that the programme would transfer ahead underneath his administration.
