‘Malimawa’ points to IMF

Wednesday, 2 October 2024 03:29 - - {{hitsCtrl.values.hits}}

Cabinet Spokesman and Minister Vijitha Herath

Sri Lankan delegation to visit Washington DC for in-depth discussions later this month says Minister and Cabinet Spokesman Vijitha Herath as IMF team arrives today for preliminary talks

By Charumini de Silva

Cabinet Spokesman and Minister Vijitha Herath yesterday announced that a Sri Lankan delegation will travel to Washington DC, US later this month for detailed discussions with the International Monetary Fund (IMF) on the country’s ongoing financial program.

Speaking at the first post-Cabinet meeting media briefing, he clarified that while the IMF agreement was not specifically addressed during the metering, the Government intends to review the program and move forward.

A high-level IMF team led by Asia Pacific Department Director Dr. Krishna Srinivasan is due to visit Colombo today (2) till Friday (4) to meet with President Anura Kumara Dissanayake and the new economic team to discuss the latest developments and reforms under Sri Lanka’s economic program supported by the IMF.

Herath said this will be a preliminary discussion to guide the program’s progress, describing it as a “courtesy visit”.

The Sri Lankan delegation set to visit Washington, D.C., will include the President’s economic advisers Duminda Hulangamuwa, Anil Fernando along with the Treasury Secretary Mahinda Siriwardana and the Central Bank Governor Dr. Nandalal Weerasinge.

Among the key issues on the agenda is a framework agreement on International Sovereign Bonds (ISBs), which is in the final stage of negotiation.

“Despite claims by the previous Government that the ISB was finalised, it is still in its last phase of completion,” the Cabinet Spokesman said.

Herath said the delegation will also address domestic debt restructuring, following criticism and concerns about the current approach to managing the country’s debt.