Sri Lanka prepared to turn to IMF for bailout

February 22, 2022

Sri Lanka is prepared to turn to the International Monetary Fund (IMF) for a bailout, a Government Minister said today.

Cabinet co-spokesman Dr. Ramesh Pathirana said that the Government is maintaining an open mind on the issue.

He said that Sri Lanka has obtained IMF assistance in the past and will do so if the need arises again.

The IMF had said recently that Sri Lanka has not yet made a request for financial support.

 

Gerry Rice, the Director of the Communications Department (COM) at the International Monetary Fund said that a staff team from the IMF in Colombo completed Article IV consultations and that will now be discussed by the Executive Board.

“Probably later this month towards the end of this month. We also, I can tell you we had a mission that was aiming to strengthen, technical assistance mission, aiming to strengthen the macro fiscal unit at the Ministry of Finance as part of our capacity development activities. And that was conducted virtually and is just concluding almost as we speak,” he said.

The IMF spokesperson said that the IMF has not received a request for financial support from the Government of Sri Lanka. (Colombo Gazette)