IMF eyes creditor assurances as it prepares Sri Lanka visit

 

The International Monetary Fund said it will need "adequate assurances" from Sri Lanka's creditors for a new program as it prepares a visit to Colombo later this month.

The goal of the visit is to make progress on a staff-level agreement for an aid package "in the near term," to help the island nation weather a severe economic crisis, the IMF said on Friday.

Staff from the global lender will be in Colombo from August 24 to 31, the IMF said.

"Because Sri Lanka’s public debt is assessed as unsustainable, approval by the IMF Executive Board of the Extended Fund Facility program would require adequate assurances by Sri Lanka’s creditors that debt sustainability will be restored," the IMF said.

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