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IMF wants SL to finalize deals with creditors ahead of second review in June

13 December 2023 09:16 am - 23     - {{hitsCtrl.values.hits}}

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Colombo, Dec 13 (Daily Mirror) - Sri Lanka needs to enter into agreements with its official and private creditors before the second review of the Extended Fund Facility (EFF), which is expected to be concluded by the end of the first half of next year, IMF Senior Mission Chief for Sri Lanka, Peter Breuer said.

He said the agreements that have been entered with creditors in-principle need to be converted into real agreements before the second review.

The IMF team is scheduled to visit Colombo March-April next year and is expected to finish the second review by June.

Sri Lanka has entered into in-principle debt restructuring deals with the Official Creditor Committee (OCC) led by France, China and India and also with Exim Bank of China.

However, Sri Lanka is yet to strike a deal with its commercial creditors or the bondholders. An initial proposal involving restructuring debt linked to GDP growth by the bondholders was rejected by the Sri Lankan authorities.  


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  Comments - 23

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  • ANTON Wednesday, 13 December 2023 10:50 AM

    WE WILL BECOME WALKING ZOMBIES WHEN YOU FINSH DAMN REVIEWS.

    Tax Payer Wednesday, 13 December 2023 12:53 PM

    Now the results of the Second Review can be expected only in JUNE 2024 .. Wait foe another 06 months ! Now better withdraw all Tax Proposals including VAT before an uprising.

    Cecil Wednesday, 13 December 2023 05:44 PM

    Are you really a taxpayer who pays his dues?

    Mahinda Wednesday, 13 December 2023 01:04 PM

    IMF monies cannot be expected in a hurry .So the only solution is to recover urgently all plundered wealth, stop expenditure on former President's, Slash the No of Ministers and State Ministers and their Perks, BAN all foreign travet by Politicians and Officials and stop Wastage,

    Citizens are Suffering Wednesday, 13 December 2023 01:12 PM

    Have IMF seen the difference how the politicians

    Where’s the Accountability of Previous Loans Wednesday, 13 December 2023 03:10 PM

    The politicians are having all perks

    Ram Wednesday, 13 December 2023 02:50 PM

    Government is used to bullshitting us. Government's attempt to bullshit the IMF has failed. IMF wants things to be done properly

    Samuel Wednesday, 13 December 2023 04:45 PM

    And you thought you could bullshit the government by not paying taxes, but failed.

    Sam Silva Wednesday, 13 December 2023 11:02 PM

    @Samuel , His comment has a point but your respond is baseless. There is only very few in our country that pays the due taxes but majority is not including the politicians , influentials and the crooks. The ird goes after only the people they are comfortable. Even if all pays the taxes do you think the government will not bullshit the people.

    Natalie Nanayaka Wednesday, 13 December 2023 03:54 PM

    This when the sh.. hits the fan. Ranil must be already planning his hasty exit. The Rajapaksas must have all their bags packed.

    TIME TO WAKE UP Wednesday, 13 December 2023 03:55 PM

    SURELY the Country could have settled part of its debts by now, if RANIL had gone after those who brought down the Country to its KNEES and the NASSES to their BELLYS, while trying to do whatever else he could to keep the Country as it is at present. I am SURE, RANIL would TODAY be RECODNISED AS A TRUE LEADER and WON THE HEARTS OF ALL CITIZENS, ESPECIALLY THE MASSES. HE HAS FAILED UPTO NOW IN THE EYES OF THE MAJORITY OF CITIZENS.

    Buddhist Wednesday, 13 December 2023 05:05 PM

    IMF should also put pressure on SL to pass the bill for the recovery of stolen funds.

    Sam Silva Wednesday, 13 December 2023 07:19 PM

    They do not have the authority interfere. But our leader could.

    Ranjith Wednesday, 13 December 2023 05:56 PM

    take steps to recover the stolen money but our President is a covered safeguarding the thief's but killing the masses.

    Lucky Wednesday, 13 December 2023 07:55 PM

    This Peter Bauer must watch his tongue. True we are depending on the IMF to get us out of this Economic mess brought about by Looters both local and foreign, who are clinging on to what they have robbed. But that does not entitle him to use demanding language on us. He should be told in the same tone to ********** OFF !

    Sambo Wednesday, 13 December 2023 08:11 PM

    Probably by June the culprits will no longer be available as the general public will kick them out if they are taxed at this going rate. Not enough taxing the public they also eat the best and drink the best on the poor public money. Shameless .......

    Sathis Wednesday, 13 December 2023 08:44 PM

    IMF should manage this country because all politician are failed. Let IMF leads

    Namal Fernando Wednesday, 13 December 2023 09:37 PM

    By June 2024, Ranil and Rajapakses will be arranging their stuff to vacate and leave close to the election. People are counting days to send them home and bring justice against culprits.

    Hemantha Wednesday, 13 December 2023 11:29 PM

    To the contrary, people from the south are going to elect Rajapakas for the top post. Wait and see.

    Pantha Kumaran Wednesday, 13 December 2023 11:43 PM

    I don't blame IMF. We all know very well our politicians from all side are responsible to this situation. Sajith, Mahinda, and others are responsible to the current situation. Ranil is the worst one. He was involved in the Central Bank Bond Scam and today he is our unelected President. What a joke

    Siriyawathie Dodamgoda Thursday, 14 December 2023 05:12 AM

    It is good that IMF wants strict rules not allowing any games of SL political thieves! All politicians since 1948 are thieves. Stolen money and broke in to banks - they GoRa and MaRa publicly announce that RW is a big thief! Now they are playing together to save each other! God will take a decision soon!

    Abd Thursday, 14 December 2023 05:47 AM

    IMF knows where the money goes if delivering now,certainly around October 2024,presidential election must be here, so now RW cannot use it for his reappointment as he expected,seems he was expecting give it out as dole from beginning of 2024 to grab votes, he missed the bus

    Fortune Teller Thursday, 14 December 2023 05:41 PM

    Waiting to see if CHINA will lay their CLAWS on more of the country's assets in order to sign REAL agreements, pushing up further down the SINK HOLE.


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