COLOMBO: Addressing a press conference on Friday from Washington via zoom ,Sabry told Sri Lankan journalist that Sri Lanka has approached the IMF for a debt restructuring program an Extended Funding Facility (EFF) for the midterm .He also confirmed that negotiations with the Governments of India & China have been extremely successful.
He further noted that officials within the IMF have been cordial, empathetic and steadfast in looking for ways to assist the country in its efforts to find a sustainable solution.
He added that the burden of proving debt sustainability is very much with Sri Lanka in securing an EFF. Upon establishing that credibility, he expressed hope that Sri Lanka might secure a Rapid Financial Instrument (RFI) for the short term.
However, as mentioned earlier, with India & China stepping up with extensions to existing credit lines & new facilities for immediate relief, the immediate future of Sri Lanka is considerably more hopeful than before.
Additionally, the Asian Development Bank, The Asian Clearing Union have also been approached and have confirmed willingness to partner with Sri Lanka in assistance. The governments of Japan & France have also been approached & have provided responses that are very promising.(Government Information Department)
