IMF asks for more information from govt. before any deal

• Asks for information regarding electricity tariff revisions and Excise Act, among others
• Requested details to be presented in next meeting due to be held on August 31 
• President’s Office says talks on Wednesday (24) were positive

The International Monetary Fund (IMF) has requested further details from the Sri Lankan government, so that it can have better insights into the ongoing economic revival efforts, before a decision is made on rolling out the bailout funding.

The President’s Office yesterday shared with the media that the officials of the IMF have made a request for additional information pertaining to electricity tariff revisions and the Excise Act, among others, before the next round of talks.

The request for additional information was made at the discussion held on Wednesday (August 24) with President Ranil Wickremesinghe virtually.

The government is expected to have the requested details ready by August 31, which is when a follow-up discussion has been scheduled.

According to a statement released by the President’s Office, in the meeting this week, both parties exchanged ideas in a positive manner. 

Joining the meeting with Wickremesinghe were financial and legal advisors of the IMF.

Engaging in the meeting from the IMF were IMF Negotiation Panel Head Peter Breuer, IMF Deputy Head Masahiro Nozaki and IMF Permanent Representative in Sri Lanka Tubagus Feridhanusetyawan.

From the government of Sri Lanka, in addition to Wickremesinghe, attending the meeting were Chief of Staff to President and Senior Advisor to President on National Security Sagala Ratnayake, President’s Secretary Saman Ekanayake, Central Bank Governor Dr. Nandalal Weerasinghe and several other Central Bank senior officers.

Sri Lanka is looking to firm up with the IMF a staff-level pact, for a possible US $ 3 billion programme to pave its way out of the crisis.