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Sunday June 26th, 2022

Sri Lanka to appoint technical committee to negotiate with IMF, hire law firm

ECONOMYNEXT – Sri Lanka is appointing a technical committee to help negotiate with the International Monetary Fund and will also a hire a legal firm to assist with the process, Cabinet spokesman Ramesh Pathirana said.

“We have taken a policy decision to go the IMF for which we need a technical committee,” Minister Pathirana told reporters in Colombo.

Sri Lanka will also hire a legal firm to help, Pathirana said responding to a question from EconomyNext whether a US law firm would be hired for debt restructuring.

“Yes. We have taken a decision to hire a company on a long term basis to for which we need a transparent process,” Pathirana said.

“That process will be headed by Professor GL Pieris and also honorable minister of justice, PC Ali Sabry and also assisted by Central Bank Governor and Treasury Secretary.”

The International Monetary Fund has said Sri Lanka’s debt is unsustainable which requires re-profiling or re-structuring.

Comments (3)

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  1. Buddhist says:

    Central bank governor should not be in the technical committee as he has vigorously oppose approaching IMF.

  2. A Fernando says:

    So the Central Bank Governor has been forced to change his
    mind. Shameless

  3. Lal.Fernando. says:

    These people should have gone to the IMF long time ago. Well this what happen , by not taking advice from educated individuals, leaving it for the eight standard passed politicians to run this country. Very sad.

View all comments (3)

Comments (3)

Your email address will not be published.

  1. Buddhist says:

    Central bank governor should not be in the technical committee as he has vigorously oppose approaching IMF.

  2. A Fernando says:

    So the Central Bank Governor has been forced to change his
    mind. Shameless

  3. Lal.Fernando. says:

    These people should have gone to the IMF long time ago. Well this what happen , by not taking advice from educated individuals, leaving it for the eight standard passed politicians to run this country. Very sad.