Sri Lanka’s third meeting with its external creditors has not been scheduled yet, State Finance Minister Shehan Semasinghe said, as Sri Lanka is facing a delay in its debt restructuring and IMF loan approval.
Sri Lanka could not hold the third meeting with bilateral lenders scheduled for November 17 citing the creditors need some clarification before the next meeting. The creditors include geopolitical rivals China and India. No country has so far fully agreed with any of the debt restructuring system, government sources have said.
“The next meeting we have not scheduled yet because that will have to scheduled after talking to the bilateral creditors in consultation with our financial and legal advisors as well as IMF. So there is no third meeting scheduled as yet.
Government sources have said Sri Lanka is unlikely to get the IMF board approval for the $2.9 billion loan by end-December as expected earlier.
Central Bank Governor Nandalal Weerasinghe this week said the IMF board approval could be by January next if the December target is missed.
(source : Economynext)