Mahinda Siriwardana Archives

Discussions with SL authorities constructive and productive: IMF team Source:Dailymirror The IMF team that concluded their visit to Sri Lanka said that they had constructive and productive discussions with the Sri Lankan authorities on economic policies and reforms to be supported by an IMF Extended Fund Facility (EFF) arrangement and also said Executive Board approval would require adequate financing assurances from Sri Lanka’s creditors that debt sustainability will be restored and far-reaching tax reforms are urgently needed. “Sri Lanka is going through a severe economic crisis. The economy is expected to contract significantly in 2022, while inflation is high and rising. The critically low-level of foreign reserves has hampered the import of essential goods. During the in-person visit, the team witnessed some of the hardships currently faced by the Sri Lankan people, especially the poor and vulnerable who are affected disproportionately by the crisis. We reaffirm our commitment to support ...

Sri Lanka Progress talks IMF Bailing Out Details – By Dr Harold Gunathilake Website: www.Doctorharold.com Transcript: Wickremesinghe requested that the staff-level delegation from financial institutions visit Colombo as soon as possible to finalise the staff-level agreement. Sri Lankan Prime Minister Ranil Wickremesinghe has urged IMF chief Kristalina Georgieva to send a team to Colombo “as soon as possible” so that a staff-level agreement could be finalised as his cash-starved government is seeking to find USD 6 billion to keep the country afloat for the next six months. During his talks with the IMF Managing Director on Tuesday, Wickremesinghe “requested that the staff-level delegation from the IMF visit Sri Lanka as soon as possible so that the staff-level agreement could be finalised,” online portal news first. Lk reported on Wednesday, quoting a statement issued by the Prime Minister’s Media Division. The statement said that Georgieva expressed her willingness to support Sri Lanka ...