IMF welcomes Sri Lanka’s bond restructuring agreement and President Dissanayake
The International Monetary Fund (IMF) expressed its support on Monday for last week’s announcement of an agreement in principle between Sri Lanka and its international bondholders to restructure $12.5 billion in bonds.
This agreement is seen as a significant step towards stabilizing the country’s economy.
In a statement, the IMF said it looks forward to working with Sri Lanka’s newly elected president, Anura Kumara Dissanayake, and his team. “We look forward to working together with President Dissanayake and his team towards building on the hard-won gains that have helped put Sri Lanka on a path to economic recovery,” a spokesperson said.
The IMF also mentioned that it will discuss the timing of its third review of the current program with Sri Lanka “as soon as practicable.”
This agreement and ongoing cooperation with the IMF are key to helping Sri Lanka recover from its economic challenges.
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