IMF staff to visit Sri Lanka next week on aid package

IMF, Sri Lanka

International Monetary Fund staff will visit Sri Lanka at the end of August with a goal of making progress on a staff-level agreement for an aid package in the near term to help the island nation weather a severe economic crisis, the IMF said on Friday.

Staff from the global lender will be in Colombo, the capital, from Aug. 24-31, the IMF said.

Also Read: Pakistan assures IMF to increase petroleum levy by Rs50/litre

“Because Sri Lanka’s public debt is assessed as unsustainable, approval by the IMF Executive Board of the EFF (Extended Fund Facility) program would require adequate assurances by Sri Lanka’s creditors that debt sustainability will be restored,” the IMF said.

from ARY NEWS https://ift.tt/yhk6MWb

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