(LANKAPUVATH | COLOMBO) – Minister of Finance Basil Rajapaksa is scheduled to hold discussions with the officials of the International Monetary Fund and the World Bank in April, according to a report in the Sunday Times.
The International Monetary Fund and the World Bank are scheduled to hold their annual sessions in April, during which the Sri Lankan Finance Minister will hold talks with officials of those institutions, according to high level sources,
The Sunday Times report said it has learnt from high-ranking sources that the Government has initiated contact with both the IMF and the World Bank for the Finance Minister to visit Washington D.C. to start a dialogue on the feasibility of seeking their support to ride over Sri Lanka’s current economic crisis.
It is reported that if the discussions succeed, the government will entail proceeding towards negotiations between the Government and the IMF in formulating a program that will see an infusion of foreign exchange to stabilize the economy followed by likely austerity measures and fiscal reforms that will be prescribed by the Fund and agreed to by the Government.
