IMF team to visit Sri Lanka by month-end for staff-level agreement - CB Governor

samaritan

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IMF team to visit Sri Lanka by month-end for staff-level agreement - CB Governor Vbk-imf-ap

The Governor of the Central Bank says that Sri Lanka’s negotiations with the International Monetary Fund (IMF) is making good progress and that an IMF delegation is expected to visit the island by the end of August to reach a staff-level agreement.
"IMF program is making a good progress. For example, IMF mission is planning to visit Sri Lanka towards the end of this month to reach a staff-level agreement on a policy package,” Dr. Nandalal Weerasinghe said.
He stated that after Sri Lanka reaches a staff-level agreement with the IMF the country would also have to engage with its creditors on debt restructuring.
“Once we reach a staff-level agreement of course we have to reach the creditors on debt restructuring with our advisors. That will also progress once we start the staff-level agreement.”
“Once you reach that the situation will improve further," he added.

http://www.adaderana.lk/news/84374/imf-team-to-visit-sri-lanka-by-month-end-for-staff-level-agreement

Thu Aug 18, 2022 5:56 pm by **samaritan** · Thu Aug 18, 2022 5:56 pm by **samaritan**

IMO, the confirmation of IMF staff level agreement by end August by the CB Governor is big news indeed to trigger the impending bull run at CSE. As it will serve as the confidence booster to FDIs and other nations to enter into bi-lateral agreements for further assistance. Tourism sector is already showing signs of resilience and the export sector receiving a fillip from UK's Development Countries Trading Scheme.

Good times are ahead for a sustainable bullish market!

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Thu Aug 18, 2022 6:32 pm by **ADVENTUS** · Thu Aug 18, 2022 6:32 pm by **ADVENTUS**

OVERALL SENTIMENTS GOING TO BE POSITIVE WHEN THEY COME DOWN.

HOPE TO GOVERNMENT IS ABLE TO SUPPRESS THE TRADE UNIONS AND SILENCE THE JVP AND PERATUGAMI CURSE.

Sun Aug 21, 2022 6:41 pm by **samaritan** · Sun Aug 21, 2022 6:41 pm by **samaritan**

Almost half of Lanka's bilateral debt is from China

https://www.sundaytimes.lk/220821/news/almost-half-of-lankas-bilateral-debt-from-china-beijings-position-vital-for-imf-deal-492538.html

China forgives 23 loans for 17 African countries, expands ‘win-win’ trade and infrastructure projects

https://multipolarista.com/2022/08/20/china-forgives-debt-africa/

Unquote:

Hence, in my opinion its highly likely that China will act towards Sri Lanka in the same spirit as towards the African nations.

Sun Aug 21, 2022 7:01 pm by Chula · Sun Aug 21, 2022 7:01 pm by Chula

With all due respect, China basically cornered us and took over Hambantota
Harbour, exploiting the greed/incapability of our politicians, especially when we were heading into a severe crisis. I don't believe they will change their tough business stance now. They may be somewhat non-interfering as a powerfully country, but when it comes to money they are as 'tuff as tuff can be'. To add to it, regarding the IMF loan we are indirectly entangled in a proxy war between US/India alliance and China. Sad.

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IMF team to visit Sri Lanka by month-end for staff-level agreement - CB Governor

IMF team to visit Sri Lanka by month-end for staff-level agreement - CB Governor

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