Sri Lanka Seeks IMF Help, Dropping Refusal as Economy Worsens
- Government discussed plan with visiting IMF officials Monday
- Forex reserves shrinking ahead of $1 billion bond due in July
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Sri Lanka is seeking financial support from the International Monetary Fund, reversing the government’s earlier resistance as efforts to bolster its foreign exchange reserves and manage looming debt payments have been complicated by the war in Ukraine.
President Gotabaya Rajapaksa’s government initiated deliberations with visiting IMF staff Monday, according to people with knowledge of the situation. Officials from Sri Lanka plan to present policy proposals to the lender in early April, said the people, who asked not to be identified as the details aren’t public.