Sri Lankans queue up at a fuel station to buy kerosene in Colombo, Sri Lanka, April 12, 2022. (ERANGA JAYAWARDENA / AP)
COLOMBO – The International Monetary Fund has commended the steps already taken by Sri Lanka to stabilize its economy, the Sri Lankan Finance Ministry said here in a press release on Tuesday.
The ministry said Finance Minister Ali Sabry met with Managing Director of IMF Kristalina Georgieva on Monday at the IMF headquarters.
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The IMF has assured their fullest support, and a positive response has also been received to expedite the process to strengthen the support extended towards Sri Lanka, according to the press release.
Sabry also requested a Rapid Financing Instrument (RFI) and the IMF has subsequently informed him that India had also made representations on behalf of Sri Lanka for an RFI.
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The Sri Lankan government decided last week to suspend repayment for all debts for an interim period till it has an orderly and consensual debt restructuring program supported by the IMF.