A delegation of the International Monetary Fund (IMF) will be visiting Sri Lanka in mid March in order to undertake a "forensic audit on the arrears and other liabilities of the government," the Daily Mirror reported.
The delegation is as a result made by the government to examine the economy and better manage the country's debt.
"While our debt servicing payment have increased due to the contingent liabilities, the opportunity of servicing or refinancing the debt has become difficult due to the downturn of global economy," the Sri Lankan prime minister Ranil Wickremesinghe was quoted as saying as he submitted a Cabinet paper on this at a special meeting on Friday.
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Last month the IMF had urged the Sri Lankan government to get its public finances in order after the country missed its budget target.
Sri Lanka's central bank governor had previously said the country was "hammering out a way forward" with the IMF in order to repay Sri Lanka's large debt.
The delegation is as a result made by the government to examine the economy and better manage the country's debt.
"While our debt servicing payment have increased due to the contingent liabilities, the opportunity of servicing or refinancing the debt has become difficult due to the downturn of global economy," the Sri Lankan prime minister Ranil Wickremesinghe was quoted as saying as he submitted a Cabinet paper on this at a special meeting on Friday.
See more here.
Last month the IMF had urged the Sri Lankan government to get its public finances in order after the country missed its budget target.
Sri Lanka's central bank governor had previously said the country was "hammering out a way forward" with the IMF in order to repay Sri Lanka's large debt.