IMF team in Colombo to resume talks | Sunday Observer

IMF team in Colombo to resume talks

An International Monetary Fund (IMF) team is currently in Sri Lanka to resume Extended Fund Facility (EFF) program discussions. The team is due to begin discussions tomorrow.

In November last year, the IMF noted that it had delayed discussions on Sri Lanka’s next loan tranche due to the country’s political crisis that began after October 26. Following the stability in the political arena in December 2018, Finance Minister Mangala Samaraweera and Governor Indrajit Coomaraswamy and a team met IMF Managing Director Christine Lagarde in Washington in January to find ways to resume talks over the loan facility. Following the meeting Lagarde said in a statement, “The IMF remains ready to support the Sri Lankan authorities in these endeavours.”