USD 2.9bn IMF loan facility: Govt. confident of completing process early next year

Responding to media reports that the IMF wouldn’t take up Sri Lanka’s financial crisis, before the end of this year, State Finance Minister Shehan Semasinghe yesterday (14) said that the government was yet to receive assurances from its bilateral creditors, as regards debt restructuring, though they were supportive of our efforts.

Declaring that discussions were progressing, the State Minister said: “We will miss the intended formal approval by the IMF, in December, but are working hard to complete the required process by early next year.”

Sri Lanka and the IMF announced in September an agreement on USD 2.9 bn loan facility, spread over a period of four years.