China’s financial assurances insufficient for IMF bailout – US official

China’s financial assurances insufficient for IMF bailout – US official

February 1, 2023   06:26 pm

US Under-Secretary for Political Affairs, Victoria Nuland, has stated that the United States would also like to see an agreement by the International Monetary Fund (IMF) for Sri Lanka as quickly as possible. 

Speaking on the matter, however, the visiting US official noted that China’s offer pertaining to their financial assurances thus far remain insufficient, adding that the IMF needs to see credible and specific assurance that matches their standard on debt restructuring prior to moving forward with an agreement. 

Sri Lanka is currently awaiting board approval from the IMF pertaining to the Extended Fund Facility (EFF) of USD 2.9 billion.

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