Technical discussions with IMF to conclude on May 24: Spokesman Rice

The technical discussions between Sri Lanka and the International Monetary Fund (IMF) on a potential loan programme will come to a close on May 24, IMF Spokesman Gerry Rice said.

Rice, addressing a virtual IMF briefing on Thursday (20), said that the agency is closely monitoring the events that are unfolding in the crisis-hit island nation.

Rice affirmed that the IMF remains committed to help Sri Lanka in line with the policies of the agency and that it would engage with the stakeholders in support of a timely resolution of the crisis that is being faced.

Commenting on the status of the economy, Rice said the IMF is concerned about the current economic crisis.

“We are concerned…especially, the hardships being endured by the people of Sri Lanka and especially many of those people poor and vulnerable. So, we are clearly monitoring the political and economic developments very closely,” Rice said.

Further, Rice said an IMF team has been engaged in technical discussions on the authorities’ request for an IMF-supported programme and the IMF has asked for the programme.