“Strong expectation” of SL commercial creditor deal: IMF

The International Monetary Fund (IMF) this week said there is a “strong expectation” that the agreements with the commercial creditors, consistent with the programme parameters, would be reached by the completion of the second review.
IMF spokesperson Julie Kozack, addressing a press briefing, noted that the next steps on the debt restructuring are to conclude the negotiations with the external commercial creditors and to implement the agreements in principle with the official creditors.  
The domestic debt operations, part of the debt restructuring, are largely completed, she said.
Kozack noted that the macroeconomic policy reforms in Sri Lanka are starting to bear fruit. Stating that commendable outcomes include rapid disinflation, robust reserve accumulation and initial signs of economic growth, while preserving the stability of the financial system, she added that public finances have strengthened following substantial fiscal reforms and it is critical that this reform momentum be continued.