The Government yesterday reiterated that bilateral creditors have expressed their willingness to assist Sri Lanka, and the International Monetary Fund IMF is likely to officially approve country’s request by early next year.

“The IMF is anticipated to grant its formal approval by the beginning of 2023,” State Minister of Finance Shehan Semasinghe said yesterday

He also said that since the bilateral creditors have expressed their desire to assist Sri Lanka, the necessary discussions and communications are currently in progress.

Quoting the statement made by IMF Managing Director Kristalina Georgieva, at the conclusion of the Seventh “1+6” Roundtable convened in the province of Anhui by the Chinese authorities, the State Minister said that the IMF, while trying to reduce the risk of a debt crisis, appreciated China’s systematic engagement on the matter.

“We should thank the IMF and also all the bilateral creditors of Sri Lanka for their continuous support and their engagement in the prevention of distress from triggering a global debt crisis, which has already had a huge negative impact on our people. For the time being, we anticipate formal approval from the IMF early next year,” State Minister Semasinghe added.

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