IMF in talks with stakeholders to support Sri Lanka

The International Monetary Fund (IMF) says it is in talks with stakeholders to support a timely resolution of the crisis in Sri Lanka.

IMF spokesman Gerry Rice said that the IMF remains committed to help Sri Lanka in line with the IMF policies.

“There’s currently a virtual IMF staff mission engaged in those technical talks with the Sri Lankan authorities, and we expect that to continue that mission to continue through May 24. So we remain committed to help Sri Lanka in line with what the IMF policies and will engage with stakeholders in support of a timely resolution of the crisis that that is being faced there,” Rice said.

The Fund has also signed off on an initiative to help the world’s poorest countries deal with the issue of food security brought on by rising food and energy costs paired with a drop in supply from major wheat exporters Russia and Ukraine.

“We’re investing in and monitoring capacity to allow for timely identify and identification of countries facing the most pronounced financing pressures, especially in fragile and conflict affected states. We are working with country authorities on macroeconomic frameworks and and policy priorities. A critical focus is to assist countries in strengthening their social safety nets, to protect vulnerable households from the imminent threat of hunger, and to identify ways to safeguard food security without resorting to export restrictions.” (Colombo Gazette)