Sri Lanka confident of meeting conditions for IMF funding soon - report

INSUBCONTINENT EXCLUSIVE:
(Bloomberg) -- Sri Lanka is hopeful it can resolve debt restructuring issues in the second quarter so it can get financing from the
Semasinghe said Thursday on the sidelines of the Boao Forum in the southern Chinese province of Hainan
authorities and Export Import Bank of China and China Development Bank.Sri Lanka last week secured initial approval for a $337 million
payout from the IMF, though more progress on debt restructuring remains key to unlocking the funding
Sri Lanka has to firm up a preliminary debt restructuring agreement with China ExIm and reach an in-principle deal with China Development
Bank, the IMF has said.The government also has to enter memorandums of understanding with official creditors, including India and the Paris
Sri Lankan President Ranil Wickremesinghe has said that the nation is seeking relief from payments through 2027.Semasinghe said Sri Lanka
plans to introduce a law to carry forward reforms that have helped the nation get through an unprecedented economic crisis and historic debt