Finance Secretary SR Attygalle said Sri Lanka was in talks with the International Monetary Fund for a lending program.
Attygalle said in a telephone interview on
Thursday, without giving details of the program, that the November 2021 budget
proposal would "pave the way for a clear policy."
Citigroup Inc. in a report on Wednesday
quoted Sri Lankan Minister of State for Finance Ajith Cabraal as saying that
there was no "initial urgent need" for IMF funding, arguing that the
nation had There are many resources available to help you manage your debt. In
April, the government asked lenders for funds under its Rapid Financing Instrument,
a $ 1.5 billion program that ended in June.
Attygalle said Sri Lanka would take a look
at the international debt market once its budget is approved’. He said the
government would repay $1 billion in bonds that matured in October.
The Citigroup report quoted Cabal as
saying that bond sales could only take place in the second half of 2021.
READ MORE
