The IMF has commended Sri Lanka’s progress towards achieving debt sustainability, with Senior Mission Chief Peter Breuer highlighting the successful execution of domestic debt restructuring and the finalization of agreements with the Official Creditor Committee and China EXIM Bank as major milestones in this effort.
“The authorities have made commendable progress with putting debt on a path towards sustainability,” Breuer said. “The execution of the domestic debt restructuring and finalizing the agreements with the Official Creditor Committee and China EXIM Bank are major milestones.”
The IMF has been closely involved in assessing Sri Lanka’s debt restructuring initiatives.
Breuer noted that IMF staff reviewed the “Joint Working Framework” announced after the second round of restricted discussions with the bondholder committee. This assessment was shared with Sri Lankan authorities and the financial advisors of the bondholders.
“We encourage a swift resolution of the remaining steps to achieve debt sustainability and regain investor confidence,” Breuer added. “We will continue to support Sri Lanka’s ongoing debt restructuring efforts.”
Looking ahead, the IMF will formally assess Sri Lanka’s progress in meeting key commitments under the IMF-supported program during the third review of the Extended Fund Facility (EFF).
The timing of this review will be discussed with the government following the announcement of the upcoming presidential elections.
(newsfirst.lk)
(Except for the headline, this story, originally published by newsfirst.lk has not been edited by SLM staff)
