Sri Lanka's finance secretary says talks with the IMF are ongoing


Finance Secretary SR Attygalle said Sri Lanka was in talks with the International Monetary Fund for a lending program.

Sri Lanka's finance secretary says talks with the IMF are ongoing


Attygalle said in a telephone interview on Thursday, without giving details of the program, that the November 2021 budget proposal would "pave the way for a clear policy."

Citigroup Inc. in a report on Wednesday quoted Sri Lankan Minister of State for Finance Ajith Cabraal as saying that there was no "initial urgent need" for IMF funding, arguing that the nation had There are many resources available to help you manage your debt. In April, the government asked lenders for funds under its Rapid Financing Instrument, a $ 1.5 billion program that ended in June.

 Attygalle said Sri Lanka would take a look at the international debt market once its budget is approved’. He said the government would repay $1 billion in bonds that matured in October.

The Citigroup report quoted Cabal as saying that bond sales could only take place in the second half of 2021.


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