Sri Lanka has made good progress in negotiations with IMF - CBSL chief

 

The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe says that Sri Lanka has made “good progress” in the negotiations with the International Monetary Fund (IMF), which are aimed at clinching a bailout package. 

Hopefully, we will be able to reach the first milestone, a staff-level agreement with the IMF soon,” the central bank chief told reporters in Colombo. The interim budget that was presented to the parliament provides the basis for this, the central bank governor remarked. 

Delivering the interim budget speech for 2022 earlier today, President Ranil Wickremesinghe had also said that talks with the IMF had reached the “final stage”. Negotiations with the IMF, which has a team of officials visiting Sri Lanka, had made headway, said Wickremesinghe. 

Sri Lankan officials hope the budget will be followed by a preliminary, staff-level agreement with the IMF for a loan package worth between $2 billion and $3 billion.