The International Monetary Fund (IMF) has said that the time frame of releasing the USD 2.9 billion bailout to Sri Lanka remains uncertain.

Peter Breuer, senior mission chief for Sri Lanka, and Masahiro Nozaki, mission chief for Sri Lanka, in written comments to Nikkei Asia, said much depends on discussions with Sri Lanka's creditors.

However, the Sri Lankan Government expects that the IMF board will approve the bailout by December this year.

The IMF officials also said, "It is difficult to predict the timeline, as the process of debt relief discussions takes time. All parties who are involved in the process should move expeditiously, so that Sri Lanka can emerge from the crisis as quickly as possible."