Economics
Sri Lanka Seeks Immediate Funds as Aid Talks Shift to D.C.
- Nation needs between $3 billion and $4 billion this year
- Government suspended some payments pending debt recast
Sri Lankan Finance Minister Ali Sabry discusses the negotiations with the IMF, the policy plans they are looking to present and how much money they will need.
Markets: Asia.”This article is for subscribers only.
A Sri Lankan delegation is headed to Washington next week, looking to secure up to $4 billion from the International Monetary Fund and other lenders to help the island nation pay for food and fuel imports and limit debt defaults.
The team led by newly appointed Finance Minister Ali Sabry hopes to start talks with the lender of last resort on April 18 and secure aid as early as a week after negotiations.