Upcoming talks with IMF not for debt restructuring purposes - CBSL governor

Central Bank Governor Ajith Nivard Cabraal has denied media reports which stated that the meetings between Sri Lankan authorities and the International Monetary Fund (IMF) officials over the next few weeks are for the purpose of debt restructuring.

Taking to his official Twitter account, Cabraal said “Meetings of Sri Lankan authorities with @IMFNews officials over the next few weeks are NOT for the purpose of #debt restructuring as stated by some news agencies. @CBSL #SriLanka #GoSL

Earlier today, Reuters news agency, quoting sources, reported that Sri Lanka is expected to begin discussions with the IMF on a plan to help the country, including assistance with debt restructuring and managing its foreign exchange shortage.

It also said Finance Minister Basil Rajapaksa would travel to Washington D.C. in mid-April to present Sri Lanka’s proposal to senior IMF officials.

To find a way out of the crisis, the government will seek assistance with debt restructuring, the foreign exchange crisis, bolstering revenue generation and reforming state-owned enterprises, Reuters said further quoting sources.

Meetings of Sri Lankan authorities with @IMFNews officials over the next few weeks are NOT for the purpose of #debt restructuring as stated by some news agencies. @CBSL #SriLanka #GoSL

— Ajith Nivard Cabraal (@an_cabraal) March 11, 2022