Saturday, 07 October 2023 09:22

Central Bank Chief anticipates IMF Board approval by November Featured

The Central Bank Governor Nandalal Weerasinghe revealed yesterday that they anticipate the completion of the International Monetary Fund (IMF) first review by the end of this month with approval from its Board in November, with the subsequent process of debt restructuring in tandem with these efforts.

Speaking to journalists at the post-Monetary Policy Review meeting, he expressed confidence in the progress made on external debt restructuring, highlighting significant support from key players, including India, the Paris Club, and China.

“As stakeholders engaging closely with the process, I can say we have made very good progress and support was extended by all parties in our debt restructuring efforts,” he added.

He said that a staff-level agreement is on the horizon, awaiting finalisation once a few remaining details are resolved.

 

 

 

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