The Sri Lankan government is considering a bailout package by the International Monetary Fund (IMF), Sri Lanka's Sunday Times reported on Tuesday.
"Sri Lankan government is considering the conditions made by the IMF for a Fund supported programme as one option to address the balance of payment issues faced by the country," the newspaper quoted a senior Treasury official as saying.
"The IMF representatives have brought to the notice of the Finance Ministry at meeting held in Colombo recently that their bailout package would be worked out following he assessment of macroeconomic vulnerabilities, the nature and size of balance of payments needs, and Government policies to address those vulnerabilities," the official further added.
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"Sri Lankan government is considering the conditions made by the IMF for a Fund supported programme as one option to address the balance of payment issues faced by the country," the newspaper quoted a senior Treasury official as saying.
"The IMF representatives have brought to the notice of the Finance Ministry at meeting held in Colombo recently that their bailout package would be worked out following he assessment of macroeconomic vulnerabilities, the nature and size of balance of payments needs, and Government policies to address those vulnerabilities," the official further added.
Related articles:
IMF loan essential to resolve BOP crisis (15 Feb 2016)
Sri Lanka looks to IMF for $1 billion loan as foreign reserves dwindle (21 Jan 2016)
IMF warns of Sri Lanka's deficit fallout (18 Dec 2015)
‘Is Sri Lanka’s Fiscal House in Order?’ – IMF mission chief (09 Dec 2015)