By Sandun A. Jayasekera

The cabinet on Monday has given its approval to Finance Minister Basil Rajapaksa to initiate a dialogue with the IMF in order to obtain the world’s top financial body’s assistance for a debt restructuring programme and a possible loan package, Co-Cabinet spokesman, Plantation Minister Ramesh Pathirana said yesterday.  

The cabinet instructed Finance Minister Basil Rajapaksa to file a report to the cabinet after preliminary discussions with the IMF, he added.   

“Finance Minister Rajapaksa met the Asia and Pacific Department Director of the IMF, Changyong Rhee during the weekend and he expects to start formal negotiations with the IMF in April.