The two sides held the first round of discussions at the IMF headquarters last month.
The International Monetary Fund would begin the next round of technical discussions with Sri Lanka from May 9 to May 23, IMF’ mission chief for Sri Lanka Masahiro Nozaki has said.
Nozaki said on Friday in a statement that the IMF is committed to assisting Sri Lanka, in line with the IMF’s policies.
Also read: Emergency in Sri Lanka, Nepal, Pak forex dips, South Asia in crisis
“Because Sri Lanka’s debt is assessed as unsustainable, approval of IMF financing, including through a Rapid Financing Instrument, would require adequate assurances that debt sustainability will be restored,” he said.
The two sides held the first round of discussions at the IMF headquarters last month.
Also read: Sri Lanka foreign reserves dip below $50 million, minister waves red flag
Sri Lanka hopes for a Rapid Finance Instrument (RFI) facility as well as a larger Extended Fund Facility (EFF) from the IMF to overcome its foreign currency shortage issues that had led to an economic crisis.
Less time to read?
Try Quickreads
-
Quake damages over 80 houses in Pakistan’s Balochistan: Report
At least 80 houses collapsed in Khuzdar district when a 5.2 magnitude earthquake struck Pakistan’s Balochistan province, rendering over 200 families homeless, media reports said on Saturday. According to the meteorological office, the quake’s epicenter was located near Aurnaji, and hit the area at 11.55 am on Friday, the Dawn newspaper reported. The earthquake was felt for half a minute, forcing the people to run out of their homes into the open, officials said.
-
China’s Xiaomi accuses ED of ‘physical violence’ threats during probe: Report
Chinese smartphone maker Xiaomi Corp has alleged its top executives faced threats of “physical violence” and coercion during questioning by India’s financial crime fighting agency, according to a court filing seen by Reuters. The next hearing is set for May 12. Xiaomi declined to comment citing pending legal proceedings. The company’s former India managing director, Manu Kumar Jain is now Xiaomi’s global vice president based out of Dubai and is credited for Xiaomi’s rise in India, where its smartphones are hugely popular.
-
Schools in Pakistan urge govt to ban toy guns, cites increasing violence
A federation of private schools in Pakistan has written to the Shehbaz Sharif government urging it to impose a strict ban on the sale of artificial weapons, including toy guns, in the country, news agency ANI said Saturday citing local media. APPSF president Kashif Mirza attributed the increase in violence in Pakistan to youngsters playing with toy weapons. The incident remains one of the deadliest terrorist attacks in the history of Pakistan.
-
North Korea likely launched submarine missile, South Korea says
North Korea fired an unidentified projectile into the Sea of Japan on Saturday, the South Korean military’s Joint Chiefs of Staff said. The latest launch comes just three days after Pyongyang last fired a missile, as warnings grow that it may conduct a nuclear test.
-
UK PM Boris Johnson rides out voter anger at ‘Partygate’
If Boris Johnson’s Conservative critics were waiting for proof that “partygate” and a U.K. cost of living crisis have damaged his premiership beyond repair, Thursday’s local elections did not provide it. Electoral Calculus had projected they would lose about a third. Boris Johnson Braces for Local Poll Backlash Over ‘Partygate’ More worrying for Johnson will be criticism of his overall strategy. Big Names Yet the strategy carries risks for some Tory MPs.