IMF and Sri Lanka reaches staff-level agreement for US$2.9bn program

INSUBCONTINENT EXCLUSIVE:
restore macroeconomic stability and debt sustainability, while safeguarding financial stability, protecting the vulnerable, and stepping up
additional financing from multilateral partners will be required to help ensure debt sustainability and close financing gaps, the IMF said
reach a collaborative agreement with private creditors are crucial before the IMF can provide financial support to Sri Lanka.An
International Monetary Fund (IMF) mission led by Mr
Peter Breuer and Mr
Masahiro Nozaki visited Colombo from August 24 to September 1, 2022 to continue discussions on IMF support for Sri Lanka and the
potential
The agreement is subject to the approval by IMF management and the Executive Board in the period ahead, contingent on the implementation by
to reach a collaborative agreement with private creditors
Vulnerabilities have grown owing to inadequate external buffers and an unsustainable public debt dynamic
The April debt moratorium led to Sri Lanka defaulting on its external obligations, and a critically low level of foreign reserves has
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