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The IMF commended Sri Lanka’s progress towards debt sustainability, with Head of the High-Level Mission Peter Brewer highlighting that the successful domestic debt restructuring and agreement with the Official Creditors Committee and the Export-Import Bank of China are important milestones in this effort.
“The authorities have made commendable progress in putting debt on a sustainable path. The implementation of the domestic debt restructuring and the agreement with the official creditor committee and Exim Bank of China are important milestones,” Brewer said.
The IMF has been closely involved in assessing Sri Lanka’s debt restructuring initiatives.
Brewer noted that IMF staff reviewed the “joint working framework” announced after a second round of restricted discussions with the bondholder committee. The results of this review have been shared with Sri Lankan authorities and the bondholders’ financial advisers.
“We encourage a swift resolution of the remaining issues to achieve debt sustainability and regain investor confidence,” Brewer added. “We will continue to support Sri Lanka’s ongoing debt restructuring efforts.”
Looking ahead, the IMF will formally assess Sri Lanka’s progress in fulfilling key commitments under the IMF support program during the Third Extended Facility (EFF) Review.
The timing of this review will be discussed with the government following the announcement of the upcoming presidential election.
(newsfirst.lk)
(Except for the headline, this story was originally published by newsfirst.lk and has not been edited by SLM staff)
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