Courtesy The Daily News Govt reached only an understanding with IMF Leader of the House Susil Premajayantha yesterday said in Parliament that the government and the International Monetary Fund (IMF) Staff had only reached an understanding and not signed an agreement. He was responding to a question by NPP and JVP leader Anura Kumara Dissanayake […]

Courtesy Adaderana The United States Secretary of the Treasury, Janet Yellen, has informed that the U.S., as a creditor nation, will participate in restructuring Sri Lanka’s debt. A press release issued by the President’s Media Division (PMD) read that the critical need for the full cooperation of all official creditors in debt negotiations and restructuring […]

උපුටා ගැන්ම  හිරු පුවත්

By P.K.Balachandran Courtesy NewsIn.Asia Colombo, September 2: On Thursday, September 1, Sri Lanka succeeded in arriving at a staff-level agreement with the IMF for an Extended Fund Facility of US$ 2.9 billion spread over a four-year period. This facility was given following the submission of a credible plan for a thorough reform of the ruined […]

Courtesy Hiru News Paris Club is ready to start debt relief process for Sri Lanka and coordinate with non-Paris Club official bilateral creditors to provide financing assurances.

Courtesy Hiru News Foreign Ministry Spokesperson Zhao Lijian at the regular pess conference on September 2, 2022 responsed to a query of Reuters. Reuters: During a news conference on Friday, Japanese Finance Minister Shunichi Suzuki urged all countries that lent money to Sri Lanka, including China, to discuss the country’s debt restructuring. These were remarks […]

Courtesy The Daily Mirror IMF yesterday confirmed that a wealth tax is part of the agreement entered with the Sri Lankan authorities. There was much speculation that the interim budget presented in Parliament this week by President Ranil Wickremesinghe would contain wealth tax as a revenue proposal. But it only contained a proposal to increase the […]

Courtesy The Daily Mirror As a traditional friendly neighbour of Sri Lanka and a major shareholder of the International Monetary Fund, China has always been encouraging the IMF and other international financial institutions to continue to play a positive role in supporting Sri Lanka’s response to current difficulties and efforts to ease the debt burden […]

Courtesy Adaderana Sri Lanka’s 2023 Budget needs to be consistent with the economic reforms program and macroeconomic framework under the International Monetary Fund (IMF) program, says Peter Breuer, Chief of the Debt Capital Markets Division, Monetary and Capital Market Department. IMF staff and the Sri Lankan authorities announced this morning that they have reached a […]

Courtesy Adaderana Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency loan to the crisis-hit country and a formal announcement will be made on Thursday, four sources with direct knowledge of the matter said. The island nation, struggling with its worst economic crisis in more than seven decades, […]

Courtesy Adaderana The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe says that Sri Lanka has made good progress” in the negotiations with the International Monetary Fund (IMF), which are aimed at clinching a bailout package. I can announce that we have made good progress in the negotiations with the IMF. […]

Courtesy The Daily Mirror Prof. Prema-chandra Athukorala says China’s position on SL’s debt could drag negotiations for at least six months Cites Zambia as example where debt restructuring negotiations took about 7 months to conclude as a result of China’s initial hesitancy in debt restructuring  After reaching staff-level agreement, debt restructuring advisors will approach creditors […]

Courtesy Adaderana Acting Secretary General of Parliament Ms. Kushani Rohanadheera has informed all Members of Parliament to participate for the special program conducted by the Governor of the Central Bank on Sri Lanka’s current economic situation and way forward.” Organized as per the instructions of the Speaker of Parliament Mahinda Yapa Abeywardena, this interactive discussion […]

Courtesy Adaderana Sri Lanka’s Central Bank Governor Dr. Nandalal Weerasinghe says the International Monetary Fund’s disbursement of the Extended Fund Facility to Sri Lanka can be expected by the end of the year, subject to the success of debt restructuring with creditors and successful negotiations with the IMF. Speaking on Bloomberg Television, the Governor also […]

By P.K.Balachandran Courtesy NewsIn.Asia Colombo, August 20: The US Ambassador to Sri Lanka Julie Chung is confident that Sri Lanka will recover from its present political and economic troubles, but she cautions that it will have to ensure political stability and take hard decisions in consonance with the IMF’s stipulations to bring about the desired […]

Courtesy Adaderana The International Monetary Fund said it will need adequate assurances” from Sri Lanka’s creditors for a new program as it prepares a visit to Colombo later this month. The goal of the visit is to make progress on a staff-level agreement for an aid package in the near term,” to help the island […]

IMF Communications Department Washington, DC: IMF staff plans to visit Colombo during August 24-31 to continue discussions with the Sri Lankan authorities on economic and financial reforms and policies. The objective is to make progress towards reaching a staff-level agreement on a prospective IMF Extended Fund Facility (EFF) arrangement in the near term. Because Sri Lanka’s […]

Courtesy The Daily Mirror Says IMF mission due in Colombo towards end of this month to reach staff-level agreement Stresses that no change in govt.’s position about not opting to restructure domestic debt  Reiterates that domestic debt restructuring will have detrimental effects on banks and it will delay economic recovery process Expects inflation to peak […]