IMF to consider Sri Lanka’s special request for a Rapid Financing Instrument

The International Monetary Fund (IMF) will consider the special request made despite it being outside of the standard circumstances for the issuance of a Rapid Financing Instrument (RFI), the Ministry of Finance said.

Minister of Finance M.U.M Ali Sabry P.C, met with the Managing Director of IMF Kristalina Georgieva on the 18th of April at IMF Headquarters in Washington DC.

The IMF has commended the steps already taken by the Finance Minister to mitigate the financial situation in Sri Lanka. IMF has assured their fullest support to Sri Lanka and a positive response has also been received to expedite the process to strengthen the support extended towards Sri Lanka.

Minister of Finance made a request for an RFI with the IMF and the IMF has subsequently informed Minister Sabry that India had also made representations on behalf of Sri Lanka for an RFI.

Further arrangements have been made to hold several more rounds of talks today (19th April 2020). Secretary to the Treasury Mahinda Siriwardana and Governor of the Central Bank Dr. Nandalal Weerasinghe also participated in these meetings.

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