ECONOMYNEXT – An agreement in-principle with China’s Exim Bank was positive and assurances from other official creditors are awaited to go forward with Sri Lanka’s program review, an International Monetary Fund official said.
“We have received a document describing the financial parameters of the agreement-in-principle reached between Export-Import Bank of China and Sri Lanka on debt restructuring,” IMF Senior Mission Chief Peter Breuer said.
“This is a positive step forward in Sri Lanka’s debt restructuring.
“The IMF stands ready to move forward with the first program review as soon as financing assurances from all official creditors are in place.”
Sri Lanka’s State Minister for Finance Shehan Semasinghe told parliament that a response from official creditors is expected soon.
An official creditor committee includes the Paris Club creditors and India. (Colombo/Nov21/2023)