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IMF: International Monetary Fund says Sri Lanka on road to agreement with it

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Colombo : International Monetary Fund had constructive and productive discussions with the Sri Lankan authorities on economic policies and reforms, which were to be supported by a International Monetary Fund Extended Fund Facility Arrangement, it said in a release on Thursday.

The statement raises hopes that the beleaguered country can put its public finances in order and reassure creditors.

“Discussions will almost continue with a view to reaching an employee-level agreement on the EFF arrangement in the near term,” the IMF said.

The island of 22 million people is facing its worst financial crisis in decades, which has left it struggling to pay for essential imports and forced it to default on some foreign debt.

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