It will pave the way for Sri Lanka to regain confidence of foreign investors and international market financing favorable for the country to overcome the ongoing man made economic crisis.

The IMF Executive Board’s endorsement on staff-level agreement relating to the country’s four year economic reform programme has been reached on Monday 20.

The Executive Board meeting on the IMF-supported Extended Fund Facility (EFF) Arrangement for Sri Lanka is now being held at Washington D.C, IMF sources said.

Key bilateral lenders such as Japan, India, China, Paris club countries and other agencies have already extended the financing assurances to the IMF, ,two senior finance ministry officials who are closely connected to negotiations disclosed.

Saudi Arabia, Pakistan, Hungary and Kuwait also have provided debt restructuring assurances to the IMF.

Sri Lanka’s private bondholders have informed the IMF that they are prepared to negotiate with Sri Lankan authorities in debt restructuring talks consistent with the parameters of the global lender’s programme, finance ministry sources said