Sri Lanka to restart talks with IMF immediately: president
The Peninsula
Colombo: Sri Lanka s new president called on Wednesday for restarting talks with the IMF immediately over a $2.9 billion bailout that threw a lifeli...
Colombo: Sri Lanka's new president called on Wednesday for restarting talks with the IMF "immediately" over a $2.9 billion bailout that threw a lifeline to his bankrupt country but imposed painful austerity.
Self-avowed Marxist Anura Kumara Dissanayake won a landslide last week promising to reverse steep tax hikes, raise public servant salaries and renegotiate the International Monetary Fund rescue package secured by his predecessor.
The 2023 bailout helped end crippling shortages of food, fuel and medicine and returned the economy to growth, but its austerity measures left millions struggling to make ends meet.
"We plan to begin negotiations with the International Monetary Fund immediately," Dissanayake said in a televised address to the nation.
In his 10-minute address, he said he also wanted to conclude a deal to restructure international sovereign bonds and secure more concessions for the cash-strapped nation.
