IMF Staff Statement on Sri Lanka

IMF News, August 19, 2022

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IMF Staff Statement on Sri Lanka

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Bibliographic details

• Published: August 19, 2022

Visit details

• Press Release No. 22/287
• Date: August 19, 2022
• Location referenced: Washington, DC
• IMF staff plans to visit Colombo during August 24-31 to continue discussions with the Sri Lankan authorities on economic and financial reforms and policies.

Objective and IMF program

• Objective: to make progress towards reaching a staff-level agreement on a prospective IMF Extended Fund Facility (EFF) arrangement in the near term.
• Because Sri Lanka’s public debt is assessed as unsustainable, approval by the IMF Executive Board of the EFF program would require adequate assurances by Sri Lanka’s creditors that debt sustainability will be restored.

Debt sustainability and stakeholder engagement

• Sri Lanka’s public debt is assessed as unsustainable.
• IMF staff would also continue the engagement with other stakeholders during the visit.
• Approval by the IMF Executive Board of the EFF program conditional on adequate assurances by Sri Lanka’s creditors that debt sustainability will be restored.

Mission leadership and contacts

• The team will be led by Mr. Peter Breuer and Mr. Masahiro Nozaki.
• IMF Communications Department — MEDIA RELATIONS
  • PRESS OFFICER: Pemba Sherpa
  • Phone: +1 202 623-7100
  • Email: MEDIA@IMF.org
• Twitter: @IMFSpokesperson

IMF Staff Statement on Sri Lanka, August 19, 2022.

References

• Sri Lanka and the IMF
• Press Releases
• PRESS CENTER
• https://www.imf.org/en/home