20 April 2022 08:43 am Views - 299
By Kelum Bandara
The International Monetary Fund (IMF) informed Finance Minister Ali Sabry that it would consider financial assistance to Sri Lanka under the Rapid Financial Instrument ( RFI) though it is outside the standard circumstances.
IMF Managing Director Kristalina Georgieva met him on April 18 at IMF Headquarters in Washington DC.
According to sources close to the Minister, the IMF commended the steps already taken by the Finance Minister to mitigate the situation, and assured fullest support by the IMF and was also positive on expediting the processes. Minister Sabry also made a request for a Rapid Financing Instrument (RFI). The IMF subsequently informed Minister Sabry that India had also made representations on behalf of Sri Lanka on an RFI, and informed him that they will consider it despite it being outside of the standard circumstances for the issuance of an RFI.
Meanwhile, India said that the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva , in her meeting with Indian Finance Minister Nirmala Sitharaman, praised India for extending financial support to Sri Lanka.
A statement from the Indian government also said that the Indian Minister indicated that the IMF would continue to assist Sri Lanka. Ms. Sitharaman had a bilateral meeting with Ms Georgieva.