IMF delegation to arrive in Sri Lanka next week

A delegation of the International Monetary Fund (IMF) is scheduled to visit Sri Lanka next week.

According to reports, the purpose of the meeting is to discuss the current economic crisis in the country.

During the visit, the IMF representatives are expected to hold discussions with Finance Minister Basil Rajapaksa, President Gotabaya Rajapaksa and other senior officials of the government.

On March 11, Reuters news agency, quoting sources, reported that Sri Lanka is expected to begin discussions with the IMF on a plan to help the country, including assistance with debt restructuring and managing its foreign exchange shortage.

It also said Finance Minister Basil Rajapaksa would travel to Washington D.C. in mid-April to present Sri Lanka’s proposal to senior IMF officials.

However, Central Bank Governor Ajith Nivard Cabraal later denied the media reports, stressing that the scheduled meetings are not for the purpose of debt restructuring.

In the meantime, the finance minister is expected to visit India next week for a final discussion on securing a USD 1 billion credit facility for Sri Lanka.

In a statement, the Indian High Commission in Colombo said India keenly looks forward to welcoming the Sri Lankan minister next week and that his visit would consolidate ongoing efforts to further strengthen the economic partnership between India and Sri Lanka.