Talks with IMF: Govt. to appoint technical committee, hire legal firm

Wednesday, 23 March 2022 00:00 - - {{hitsCtrl.values.hits}}

Foreign Affairs Minister Prof. G.L. Peiris and Justice Minister Ali Sabry to head discussions on technical process

By Charumini de Silva

The Government yesterday announced that it is appointing a technical committee to negotiate with the International Monetary Fund (IMF) apart from hiring a legal firm on a long-term basis to assist with the process.

“We have taken a policy decision to go to the IMF for which we need a technical committee.

The Government has appointed an Economic Council and there is also expert advice given to the committee,” Cabinet Co-Spokesman Dr. Ramesh Pathirana said in response to a query at the post-Cabinet meeting media briefing yesterday.

In relation to the technical matters on debt restructuring, the Cabinet Co-Spokesman said the Government has taken a decision to hire a legal firm on a long-term basis to ensure a transparent process.

“The transparent process will be headed by Foreign Affairs Minister Prof. G.L. Peiris and Justice Minister PC Ali Sabry. They will also be assisted by Central Bank Governor and Treasury Secretary,” he explained.

Dr. Pathirana confirmed that the Government is going ahead with the decision to seek assistance from the IMF.