The Colombo Gazette website has reported that they are still waiting for sufficient guarantees regarding debt restructuring to submit to the Executive Board of the International Monetary Fund to approve a program that will support Sri Lanka.
The International Monetary Fund confirmed that neighbouring India is committed to easing Sri Lanka’s debt burden as part of a program supported by the International Monetary Fund.
“Other official bilateral creditors must also approve the loan to Sri Lanka,” Reuters quoted an IMF spokesman as stated in a statement.
“As soon as the Sri Lankan authorities obtain sufficient assurances and meet the remaining requirements, a program to support funding for Sri Lanka can be submitted to the Executive Board of the International Monetary Fund for approval,” the statement said.