ECONOMYNEXT – Sri Lanka’s President Ranil Wickremesinghe said he is seeking parliamentary approval for a reform program with the International Monetary Fund to begin the second round of debt talks with bilateral and private creditors.
“I am asking the house to give approval to the IMF program. If approval is not given I cannot talk with the creditors in the second round,” President Wickremesinghe said.
If necessary he will also meet the National Council, a body linked to the elected representatives, he said.
The approval will be needed by the third week of April, he said.
Sri Lanka has already had initial discussions with bilateral creditors who had agreed to re-structure debt according to the parameters of an IMF program.
Bilateral creditors now have to negotiate with each other. Sri Lanka meanwhile has to start talks with private creditors. (Colombo/Mar23/2023)