Sri Lanka's Crucial IMF Bailout Talks in Washington

Sri Lanka is set to hold detailed discussions with the International Monetary Fund (IMF) on the framework of a $2.9 billion bailout programme during the lender's annual meetings in Washington. The country aims to secure the disbursement of the fourth tranche and discuss recent economic changes and reforms.

Sri Lanka is gearing up for detailed discussions with the International Monetary Fund (IMF) regarding a $2.9 billion bailout framework at the lender's annual meetings in Washington, later this month. This was confirmed by the country's cabinet spokesperson on Tuesday.

The delegation, led by central bank governor, treasury secretary, and financial advisers to President Anura Kumara Dissanayake, will aim to secure the fourth tranche of about $337 million under IMF's bailout programme. An IMF team is scheduled to visit Colombo from Wednesday to engage in discussions about the latest economic developments and reforms.

Cabinet spokesperson Vijitha Herath stated that although an evaluation of the IMF programme is necessary, it will not be conducted during this week's courtesy visit by the IMF delegation. The backdrop of these discussions includes the backdrop of the 2024 annual meetings of the IMF and the World Bank, scheduled for Oct. 21-26.

(With inputs from agencies.)