Top IMF official in town to give President independent view on state of the economy

Monday, 14 March 2022 00:24 - - {{hitsCtrl.values.hits}}

REUTERS: A senior International Monetary Fund (IMF) official will be visiting Sri Lanka today and tomorrow to brief President Gotabaya Rajapaksa on the funds assessment of the crisis-hit economy, Sri Lanka mission chief Masahiro Nozaki told Reuters.

“While the IMF has not received a request for financial support from Sri Lanka, the staff stands ready to discuss options if requested,” Nozaki said.

The visit comes ahead of plans by Sri Lanka to hold formal talks with the IMF next month on how to help the country.

Sri Lanka is facing its worst financial crisis in years. With foreign exchange reserves standing at a paltry $ 2.31 billion, the country is struggling to pay for critical imports including fuel, food and medicines.

In a periodic review release earlier this month, the IMF called on the government to implement a “credible and coherent” strategy to repay debt and restore macroeconomic stability.

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