IMF says no request for financial support from Sri Lanka

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The International Monetary Fund (IMF) says it has not received a request for financial support from Sri Lanka. International Monetary Fund mission chief for Sri Lanka, Masahiro Nozaki told Inner City Press that IMF staff continue to engage with Sri Lankan authorities.

He said they plan to discuss macroeconomic developments, outlook, and macroeconomic policies in the context of the next Article IV consultation.

Nozaki said the next Article IV consultation is expected to take place later this year.

IMF

“We have not received a request for financial support from Sri Lanka recently, but stand ready to discuss options if requested,” the IMF said.

Ajith Nivard Cabraal, Minister of State for Money and Capital Markets and State Enterprise Reforms was quoted as saying this week that the IMF has decided to provide US $ 800 million (Rs. 160 billion) in August to boost the country’s economic strength.

State Minister Cabraal also stated that this is a grant and not a loan to be repaid.

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