Sri Lanka’s debt restructuring likely to be complete by September – IMF

The IMF has expressed hope that Sri Lanka’s debt restructuring process would be completed by September, which is also the time for the global lender’s formal review of the bailout facility it extended to the cash-strapped nation, a senior IMF executive said on Monday.

The International Monetary Fund (IMF)  recently extended a  USD 3 billion bailout facility to debt-ridden Sri Lanka that would help stabilise the country’s economy after it was jolted by a devastating economic crisis last year.

“The IMF is hopeful that Sri Lanka’s debt restructuring process would be completed by September which is the time for the first review,” Krishna Srinivasan, the IMF’s director for Asia Pacific, told reporters.

(PTI)