IMF expresses its concern

Media reports reveal that the IMF strongly warned the government during the review related to the release of the third instalment of the loan of 2,900 million dollars approved for Sri Lanka.
This is because international sovereign bondholders and bilateral creditors have been told to reach final agreements very soon regarding restructuring the primary foreign debt. Although the government initially announced that it would restructure the foreign debt, the restructuring process related to cutting off the domestic debt has started, but no final agreement has been reached regarding foreign loans.
Julie Kozak, director of the IMF’s communication department, stressed the urgent need for a memorandum of understanding with foreign creditors during a press conference on the 6th.

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