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Mangala set to leave for Washington to get IMF deal back on track

9 January 2019 11:35 pm - 3     - {{hitsCtrl.values.hits}}

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Finance and Mass Media Minister Mangala Samaraweera will leave for Washington tomorrow to get the International Monetary Fund (IMF) External Fund Facility (EFF) back on track.  

He will be meeting IMF Managing Director Christine Lagarde, Deputy Managing Director Mitsuhiro Furusawa, Asia Pacific Department Director Chanyong Rhee, Team Leader Manuela Goretti and the other members of the IMF Sri Lanka Team.

Samaraweera is expected to signal the government's intention to continue with the IMF reform programme. 

“A key objective will be to negotiate the trajectory of continued fiscal consolidation while accommodating policies to support growth and strengthen the social safety net,” a Finance and Mass Media Ministry statement said.

Samaraweera’s delegation to the IMF will include Central Bank Governor Dr. Indrajit Coomaraswamy, Treasury Secretary Dr. R.H.S. Samaratung and other key Central Bank and Treasury officials.

The IMF has disbursed over US $ 1 billion out of a US $ 1.5 billion three-year EFF loan it agreed with Sri Lanka in 2016. 

The political crisis that triggered on October 26, 2018 prompted the IMF to delay the disbursement of the sixth loan tranche of US $ 250 million. 

The total loan was expected to have been disbursed with a seventh tranche by mid-2019.
Dr. Coomaraswamy recently told reporters that the government may look to extend the existing loan programme by another year with additional funding. 

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  • sunil vijaya Thursday, 10 January 2019 06:59 AM

    rata palayallaa - rata kaapalla - IMF already ruined our country - this is all you can do - foreign trips! why does this stupid president allow these corrupt people to leave country at will.

    Dallas Thursday, 10 January 2019 08:09 AM

    Enjoy the last few months in government, end is visible ,do not destry SL any more in the remaining months

    US Thursday, 10 January 2019 08:13 AM

    The United States Government is shut down and the federal employees are not getting paid. Hope you will be lucky to get your loan.


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