{"id":121758,"date":"2022-01-04T15:46:01","date_gmt":"2022-01-04T22:46:01","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=121758"},"modified":"2022-01-04T15:46:01","modified_gmt":"2022-01-04T22:46:01","slug":"sri-lanka-unlikely-to-seek-imf-bailoutcabinet-fails-to-reach-consensus","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2022\/01\/04\/sri-lanka-unlikely-to-seek-imf-bailoutcabinet-fails-to-reach-consensus\/","title":{"rendered":"Sri Lanka unlikely to seek IMF bailout;Cabinet fails to reach consensus"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy The Daily Mirror<\/em><\/span><\/h2>\n\n\n<p>Sri Lanka is unlikely to seek a bailout from the International Monetary Fund (IMF) with the Cabinet failing to reach a consensus last evening.<\/p>\n\n\n\n<p>Government sources told Daily Mirror last night that most members of the Cabinet did not support seeking financial support from the IMF.<\/p>\n\n\n\n<p>Sources said that a majority in the Cabinet are against the pre-conditions expected to be proposed by the IMF for the funding.<\/p>\n\n\n\n<p>As a result, Government sources said that Sri Lanka is most likely to decide not to seek an IMF bailout.<\/p>\n\n\n\n<p>IMF\u2019s mission chief for Sri Lanka, Masahiro Nozaki had told Daily Mirror via email in late December that the staff is still ready to discuss the option if requested.<\/p>\n\n\n\n<p>Nozaki said a staff team from the IMF visited Colombo from December 7\u201320 to conduct the 2021 Article IV consultation with Sri Lanka.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Under Article IV of the IMF&#8217;s Articles of Agreement, the IMF holds regular bilateral discussions with all member countries to review economic developments and policies.<\/p>\n\n\n\n<p>Following approval by IMF Management the IMF\u2019s Executive Board discusses a Staff Report based on these discussions, Nozaki said.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The Cabinet had last month also discussed an IMF bailout but had not reached a decision at that meeting if to seek financial support from the global agency.<strong>(Easwaran Rutnam)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy The Daily Mirror Sri Lanka is unlikely to seek a bailout from the International Monetary Fund (IMF) with the Cabinet failing to reach a consensus last evening. Government sources told Daily Mirror last night that most members of the Cabinet did not support seeking financial support from the IMF. Sources said that a majority [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-121758","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/121758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=121758"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/121758\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=121758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=121758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=121758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}