IMF’s Sri Lanka Visit May Not Lead to Renewed Pact on $3 Billion Bailout
Sri Lanka has exceeded IMF performance targets on inflation, foreign reserves and the primary deficit.
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An International Monetary Fund mission visit to Sri Lanka is unlikely to lead to an immediate staff-level agreement to keep a $3 billion bailout on track and unlock more funds from the program, according to a person familiar with the matter.
Sri Lanka will now have to hold more discussions with the multilateral lender to ensure it can meet targets, said the person who asked not to be identified as the matter is not public. The talks could be held in Morocco on the sidelines of the annual IMF meetings next month, or in Washington shortly after, the person added.