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The Ceylon Chamber of Commerce has congratulated the Government of Sri Lanka for reaching a staff-level agreement on the first review of Sri Lanka s Extended Fund Facility Arrangement (EFF) with the International Monetary Fund (IMF).
International Monetary Fund (IMF) says it looks forward to analyzing the details of the recent agreement between Sri Lankan authorities and the Export-Import Bank (Exim Bank) of China on debt treatment terms.
The International Monetary Fund (IMF) is looking for a strong budget and narrower deficit from Sri Lanka as it seeks funding to bridge the gap between government revenue and expenditure, the IMF mission chief for the country said on Friday.
The International Monetary Fund (IMF) and Sri Lanka have reached a crucial staff-level agreement which is now subject to the approval by IMF management and the IMF Executive Board. After constructive discussions with the authorities in Colombo and during the Annual Meetings in Marrakech, IMF Senior
The International Monetary Fund (IMF) team Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the first review of the 48-month EFF-supported program.
Sri Lanka today said it was confident of reaching a Staff Level agreement with the International Monetary Fund (IMF) to secure around US$338 million. State Minister of Finance Shehan Semasinghe told Parliament that multiple discussions have taken place between the IMF and Sri Lanka in recent weeks
Sri Lanka is taking an unfavorable view toward a proposal by foreign dollar bondholders for restructuring its debt, signaling possible complications in negotiations that are key for accessing further funding to support its economic recovery. “This proposal has not received a favorable response from Sri Lanka,” the Ministry of Finance said in an official statement, […]
Sri Lanka is close to reaching a vital staff-level agreement with the International Monetary Fund to get funding, while it’s also assessing debt restructuring terms from foreign holders of its dollar bonds, according to junior Finance Minister Shehan Semasinghe.The post Sri Lanka Close to IMF
Sri Lanka is close to reaching a vital staff-level agreement with the International Monetary Fund to get funding, while it s also assessing debt restructuring terms from foreign holders of its dollar bonds, according to State Minister of Finance Shehan Semasinghe.
Indian Finance Minister Nirmala Sitharaman has commended the progress Sri Lanka has made thus far with regard to the resolutions under their agreement with the International Monetary Fund (IMF).
The International Monetary Fund (IMF) does not support providing subsidies to everyone in Sri Lanka. Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department said that there needs to be targeted support to the poor and vulnerable in Sri Lanka. “We fully sympathize and understand
Sri Lanka's authorities can negotiate any proposals private creditors make, such as issuing GDP-linked bonds, a senior International Monetary Fund (IMF) official said on Friday.The post IMF: Sri Lanka can discuss proposals from private creditors including GDP-linked bonds appeared first on ONLANKA
Private creditors in Sri Lanka have submitted a restructuring proposal for the country’s $12 billion overseas debt, aiming to include a novel bond-type designed to ease repayments in the face of potential economic pressures, Reuters reported on Friday. The proposal, sent on 02 October, outlines a write-down on both capital and interest, the international news […]
Sri Lanka s authorities can negotiate any proposals private creditors make, such as issuing GDP-linked bonds, a senior International Monetary Fund official said on Friday.
Sri Lanka's private creditors have sent a proposal on how to restructure $12 billion of overseas debt, including a new type of bond designed to ease repayments in case of future economic pressure, said two sources with direct knowledge of the matter.The post Sri Lanka bondholders sent $12 billion debt rework proposal to government, sources say appeared first on ONLANKA - Sri Lanka Latest Breaking ...
Sri Lanka is likely to clinch an agreement in the next several days that would help it tap more funds from the International Monetary Fund even though it s still trying to firm up negotiations with creditors on debt restructuring, Bloomberg reported.
Sri Lanka has reached an agreement with the Export-Import Bank of China to cover about $4.2 billion of the island nation's outstanding debt, its finance ministry said in a statement on Thursday.The post Sri Lanka says it has deal with China EXIM bank covering $4.2 billion of debt appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka expects the Executive Board of the International Monetary Fund (IMF) to clear the next tranche of IMF financing of about US$334 million to be disbursed following a deal reached between Sri Lanka and China. The Finance Ministry said that the Government of Sri Lanka reached an agreement
Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.The post Sri Lanka’s talks with creditors ongoing, unaware of specific deals –
The International Monetary Fund (IMF) says despite the early signs of stabilization, Sri Lanka s full economic recovery is not yet assured.
Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.
Another team of officials from the International Monetary Fund (IMF) is expected to visit Sri Lanka next week. Minister of Justice, Prisons Affairs and Constitutional Reforms Dr. Wijeyadasa Rajapakshe told the media that the team would hold extensive discussions on the second tranche
China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related debt, a potentially major step toward resolving the South Asian nation’s fiscal woes.The post China says Exim Bank and Sri Lanka reached preliminary debt deal appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has made commendable progress in implementing difficult but needed reforms, but its full recovery is not yet assured, Daniel Leigh, a senior official in the International Monetary Fund s research department, told reporters.
[…]The post Sri Lanka: IMF / World Bank – Systemic Reforms Needed appeared first on Colombo Telegraph.
Sri Lanka's central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks to lift revenue and repair its balance sheets in a bid to secure continued financial support from the International Monetary Fund.The post Sri Lanka resumes rate cuts to boost growth as inflation cools appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Sri Lanka At A Crossroads: The IMF’s 16-Point Prescription For Reform appeared first on Colombo Telegraph.
Sri Lanka s is facing a big challenge from its largest bilateral lender, China to secure a concrete debt relief framework, as it is blocking access to desperately needed cash bailout of 3 billion US dollars from International Monetary fund, Nikkei Asia reported.
Crisis-hit Sri Lanka will focus on improving tax collection to reduce budget deficits as it streamlines the structure of the tax system, the treasury secretary said on Wednesday, with new legislation planned to improve public finances.The post Sri Lanka aims to streamline tax structure, boost collections appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Saman Indrajith Opposition and SJB leader Sajith Premadasa told Parliament yesterday that Sri Lanka had failed to secure the crucial second tranche of a $3 billion loan from the International Monetary Fund as the country was still being ruled by the same corrupt family regime