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Sri Lanka Secures Initial IMF Approval for $2.9 B Bailout Package

An International Monetary Fund (IMF) mission led by Peter Breuer and Masahiro Nozaki visited Colombo from August 24 to September 1, 2022, to continue discussions on IMF support for Sri…

IMF staff plans to visit Colombo ths week

An IMF Staff delegation led by Peter Breuer and Masahiro Nozaki plans to visit Colombo during August 24-31 to continue discussions with the Sri Lankan authorities on economic and financial…

it’s in China’s interest to restructure Sri Lanka’s debt – Yellen

China is a “very important” creditor of Sri Lanka and it would likely be in the interest of both countries if China participated in restructuring Sri Lanka’s debt, U.S. Treasury…

Political stability is critical for Sri Lanka to resolve the economic crisis – U.S Ambassador

The United States Ambassador to Sri Lanka, Julie Chung last Friday stressed that the political stability is critical to undertake lasting and decisive structural reforms in addressing the root causes…

Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid

(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…

Hike taxes to address debt woes, IMF urges crisis-hit Sri Lanka

Sri Lanka must tighten monetary policy and raise taxes to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday, even as Lanka’s President Gotabaya Rajapaksa and the cabinet…

IMF to start talks with Sri Lanka on loan request in coming days

(Reuters) – The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice said on Thursday, as the…

Sri Lanka finance minister meets top IMF official amid economic crisis

(Reuters) – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help to deal with…

IMF Urges Sri Lanka to implement an ambitious fiscal consolidation program to overcome the economic crisis

The International Monetary Fund (IMF) urges Sri Lanka to implement an ambitious fiscal consolidation that is based on high-quality revenue measures which consist of raising income tax and VAT rates…

Sri Lanka Leader Ramps Up Spending in High-Risk Bid for Support

(Bloomberg) — Many Sri Lankan voters who backed President Gotabaya Rajapaksa’s election bid three years ago are now struggling to make ends meet. His government is spending to ensure that…