Courtesy News18 Sri Lanka, which is under an ongoing economic crisis, is headed for another major turbulence as the country will not be able to secure the much-needed IMF loan in December as its ally and debtor China is yet to initiate a dialogue on debt restructuring with Colombo. A report in Hindustan Times quoting […]

Courtesy The Island A crucial discussion with Sri Lanka’s creditors is scheduled to be held on 03 Nov.During this meeting, Sri Lanka’s debt restructuring is to be discussed at length. Chief of Staff and Senior Advisor to the President on National Security, Sagala Ratnayake, met with the outgoing IMF Resident Representative for Sri Lanka, Tubagus […]

Courtesy Hiru News Ali Sabry, Minister of Foreign Affairs and President’s Counsel says that it will be possible to receive the first loan installment from the International Monetary Fund by the beginning of next year. The minister made these comments while speaking to the media in Colombo yesterday.

Courtesy Adaderana The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe says that in present circumstances, there is no alternative other than the International Monetary Fund (IMF) to get assistance for reviving the country’s economy.  He also said that tax revisions and other reforms combined with debt restructuring are parts of […]

Courtesy Adaderana Japan is working to organize a meeting of Sri Lanka’s creditors by the end of this year in hopes of solving that country’s debt crisis, The Yomiuri Shimbun has learned. The meeting, which will discuss such issues as finding ways to reduce debt payments, aims to curb China’s influence by helping Sri Lanka […]

Courtesy Adaderana President Ranil Wickremesinghe stated that he had recently discussed Sri Lanka’s debt restructuring with the Chinese Finance Minister and he is optimistic that the discussions in this regard would be concluded successfully. The President further mentioned that the delegation headed by the State Minister of Finance, who is currently in Washington, held initial […]

Hiru News The IMF says Sri Lanka is a middle income country and remains a middle income country even with the decline in GDP that is seen. The Extended Fund Facility is not a concessional. Its a regular IMF facility. Speaking during the IMF press conference on the Asia and Pacific Region’s Economic Outlook, Deputy […]

Courtesy Adaderana The International Monetary Fund is working with other multilateral lenders including the World Bank, and the Asian Development Bank (ADB) on financing programmes for Sri Lanka, the IMF’s Deputy Director for Asia Pacific says. According to Anne-Marie Gulde-Wolf, policies under other multilateral lenders in their areas of expertise will be important to resolve […]

Charith Gunawardena People must protect themselves from poor local governance and the imperfect global economic order The Annual Meeting of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington DC this October, will discuss issues of global concern. Debt justice should be at the top of their […]

Courtesy Borneo Bulletin  COLOMBO, SRI LANKA (AP) – Sri Lanka’s president said yesterday his government has started debt restructuring discussions with China, an important step toward finalising an International Monetary Fund (IMF) rescue of the island nation from its worst economic crisis. President Ranil Wickremesinghe told Parliament yesterday that the initial talks will continue after […]

Courtesy Adaderana Japan has not yet reached an agreement to co-chair a debt summit with Sri Lanka’s creditors, a government official in Tokyo said on Thursday, as the island nation struggles to find a way out of a crippling economic crisis. Sri Lanka has to renegotiate around $30 billion of foreign debt, including with bilateral […]

By Soumya Bhowmick Courtesy The Diplomat Once again, the country is forced to seek a bailout from the IMF – with all the costs and benefits that entails. The ongoing economic crisis in Sri Lanka is one of the worst that the world has seen in recent times. The island nation has an unprecedented inflation rate […]

https://www.brettonwoodsproject.org/ SUMMARY IMF operationalises new Debt Sustainability Analysis framework while methodology kept confidential A history of over-optimistic IMF assessments casts doubt on whether latest changes will make a difference Compounding economic, climate, health, and food security crises call for comprehensive large-scale debt workout In July, massive protests engulfed Sri Lanka as the debt-distressed country sank […]

Courtesy Adaderana Sri Lanka’s government appears increasingly upbeat about its chances of receiving International Monetary Fund (IMF) board approval for a USD 2.9 billion bailout by December, but the multilateral lender has cautioned that the time frame remains uncertain, and much depends on discussions with the heavily indebted country’s creditors. Peter Breuer, senior mission chief […]

Courtesy Adaderana apan is prepared to do its part” over Sri Lanka’s debt issue, but other creditors, such as China and India, should also be involved in efforts to resolve it, Finance Minister Shunichi Suzuki said Thursday. Suzuki made the remarks after meeting with Ranil Wickremesinghe, president of Sri Lanka, which has reached a preliminary […]

Steve Forbes Forbes Staff Courtesy Forbes For decades, the International Monetary Fund has been the scourge of countries that get into economic trouble, yet its authority has never been seriously challenged. Today, this is especially dangerous. The deadly combination of inflation and food shortages is putting numerous nations on the brink of disaster. A few, most […]

Courtesy Adaderana President Ranil Wickremesinghe held discussions with Japan’s Foreign Minister Yoshimasa Hayashi this morning in Tokyo. During the meeting, Foreign Minister Hayashi welcomed Sri Lanka’s progress with the IMF and expressed his country’s willingness to take a leading role in Sri Lanka’s creditor talks, the PMD reported. President Wickremesinghe expressed regret over the breakdown […]

Courtesy The Daily Mirror Sri Lankan officials promote ad-hoc bilateral creditor platforms to expedite process  Bilateral assurances expected around mid-November  Private creditor assurance could come by way of ‘good faith’ engagement by officials  ISB holders form two groups representing international and local bondholders to assess restructuring   Any fund disbursements from the International Monetary Fund (IMF) […]

Courtesy Hiru News Sri Lanka expects the International Monetary Fund board to approve a $2.9 billion loan by year-end, officials from the country’s central bank told investors during a virtual presentation on Friday, sources participating in the event said.

By Shahid Mehmood Courtesy The Island HE resumption of the IMF package, that was badly needed to avert an external payments crisis, has reignited passions. As most countrymen wrestle with the question of whether or not the Fund is a tool of neocolonialism to keep countries like Pakistan sedated and subservient, what is lost in […]

Courtesy NewsIn.Asia Sept 23 (Reuters) – Crisis-hit Sri Lanka will begin on Friday the tricky task of debt renegotiation with a raft of private and bilateral creditors, including China, India and Japan, to restructure and repay nearly $30 billion that it owes. WHY THE NEED TO RESTRUCTURE DEBT? Years of economic mismanagement and the fallout […]

Courtesy Adaderana President Ranil Wickremesinghe has informed the Speaker of Parliament that the Cabinet of Ministers & the Opposition would be briefed on the staff-level agreement reached International Monetary Fund (IMF) soon. Conveying the President’s clarification, Speaker Mahinda Yapa Abeywardena stated, The President has informed me that even the Cabinet has not been briefed about […]

උපුටාගැණීම  මව්බිම සමෘද්ධිමත් ජාතියක් වීමට එකට එක්ව බංකොලොත්භාවයට එරෙහිව සටන් කළ යුතු බව ජනාධිපති රනිල් වික්‍රමසිංහ අවධාරණය කර තිබේ. ඒ, බ්‍රිතාන්‍යයේ ශ්‍රී ලාංකික ඩයස්පෝරාව සමග ඊයේ (සැප්. 19) පැවති හමුවකදී ය. එමෙන් ම, ඩයස්පෝරා කාර්යාල ව්‍යාපෘතිය ඇතුළු ශ්‍රී ලංකාවේ නිර්මාණය වී ඇති නව ආයෝජන අවස්ථා සඳහා එක්වන ලෙස ද ජනාධිපතිවරයා ඔවුන්ට ආරාධනා කර ඇත. බ්‍රිතාන්‍ය […]

Courtesy Adaderana India said on Tuesday it had begun talks with Sri Lanka on restructuring its debt and promised to support the crisis-hit neighbour mainly through long-term investments after providing nearly $4 billion of financial aid. Sri Lanka, a tourism-dependent South Asian country of 22 million, is struggling with its worst economic crisis in more […]

Courtesy Adaderana China and other big creditors have a responsibility to prevent the debt problems facing emerging market and low-income countries from exploding, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said. Georgieva, speaking at an event hosted by the Center for Global Development, said 25% of emerging market and 60% of low-income countries were […]

Courtesy Hiru News The International Monetary Fund (IMF) on Tuesday confirmed that it is moving toward expanding emergency financing for countries hit by surging food prices and shortages triggered by the war in Ukraine, with some 20 to 30 countries seen most in need. IMF Managing Director Kristalina Georgieva said the fund’s executive board members […]

Courtesy Hiru News The Financial advisory group Lazard hired by Sri Lanka has started talks with India, China and Japan on restructuring Sri Lanka’s debt, Minister Ramesh Pathirana the Cabinet spokesperson said today, as the country seeks an International Monetary Fund (IMF) bailout. Lazard was hired by Sri Lanka in May, along with international lawyers […]

Courtesy Morning Star CHINESE loans to countries facing financial ruin in recent years, including Sri Lanka, Argentina and Pakistan, mean that Beijing is increasingly seen as an alternative to the International Monetary Fund, an analysis published in the Financial Times has found. China’s Belt and Road Initiative had already led to it eclipsing the World Bank as […]

Courtesy The Island ECONOMYNEXT –Sri Lanka’s central bank chief has informed the speaker of parliament that he has no objections to presenting the country’s agreement with the International Monetary Fund (IMF) though doing so is a decision up to the minister of finance.Speaker Mahinda Yapa Abeywardena informed parliament Friday September 09 morning that Central Bank […]

By Saman Indrajith Courtesy The Island It was up to the Minister of Finance Ranil Wickremesinghe to decide whether to present the government’s agreement with the IMF to Parliament, Speaker Mahinda Yapa Abeywardena said yesterday.Earlier, Chief Opposition Whip, Lakshman Kiriella, said that at the next business of the committee meeting, he was planning to ask […]