Sri Lanka IMF issues could be worked out March or April: IMF

Feb 12, 2016 (LBO) – Sri Lanka has expressed interest in an IMF supported program as an option to address balance of payments pressures and issues could be worked out by March or early April, an IMF official said.

“The authorities have expressed interested in a Fund supported program as one option to address the balance of payments, pressures that they face,” Gerry Rice, director of the IMF Communications Department said in Washington D.C.

“We are considering the options and that will depend on our assessment of macroeconomic vulnerabilities, the nature and size of balance of payments needs, and government policies to address those vulnerabilities.”

A technical mission to review recent developments and “options for reducing the size of Sri Lanka’s 2016 budget deficit concluded February 5,” he added.

“We published the statement that day and the issues I’ve just described, they will be worked out in a future negotiating mission that could take place in late March or early April, that’s on Sri Lanka.”